A Quote by John Gutfreund
Proprietary stock-index arbitrage is but one aspect of program trading. Arbitrage will take place whenever there is an imbalance created in one or more markets that are similar.
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If one asserts that buying customers below what they charge them is a corporate strategy, this is in essence an arbitrage game, and arbitrage games rarely last.
You know what term you don't hear anymore? Arbitrage. The markets have gotten too efficient.
Proprietary software tends to have malicious features. The point is with a proprietary program, when the users don't have the source code, we can never tell. So you must consider every proprietary program as potential malware.
Basically, what I do is place a stop, generally 10 to 20 percent below the current price, whenever I buy a stock. The exact level depends on my own analysis of a stock's trading pattern. If a stock violates this stop, I'm out.
Proprietary software tends to have malicious features. The point is with a proprietary program, when the users dont have the source code, we can never tell. So you must consider every proprietary program as potential malware.
Hedge funds try to produce above-average investment returns using tactics ranging from traditional stock-picking to complex derivative and arbitrage plays. High minimum investments, redemption restrictions and aggressive strategies make them suitable mainly for more sophisticated and well-heeled investors.
Arbitrage human nature. It's not going to change any time soon.
First and foremost, localization is a customer strategy, it's not a cost arbitrage or whatever.
There is a bit of a problem with the match between derivative securities markets and the primary markets. We have long ago instituted principles, essentially high margin requirements, to prevent certain instabilities in the stock market, and I think they're basically correct. The trouble is that there's a linkage, let's say, between something like the stock market and the index futures markets, and the fact that the margin requirements are very different, for example, played some role in the October '87 crash.
Arbitrage proof has since been widely used throughout finance and economics.
The rank of a university is similar to an index number say like the NASDAQ index. I don't understand how you can take an institution like Harvard, Stanford, or Michigan, and represent it by an index number. The concept makes no sense.
It's so funny to think that I used to be a model and here I am doing arbitrage, shipping and negotiating margins, the list is endless.
The thought process of India was more around its potential as a cost arbitrage. We always recognised the potential of India, but we were more coming from how can we fit into cost structure rather than selling things here.
The market gives you the opportunity to arbitrage what the emotional investor will pay or sell at versus the fundamental value of a company, but you've got to pull the trigger promptly without hesitating. We've disciplined ourselves mentally and prepared ourselves in terms of information, as well as relationships with brokers, to do that.
One reason you should not use web applications to do your computing is that you lose control. It's just as bad as using a proprietary program. Do your own computing on your own computer with your copy of a freedom-respecting program. If you use a proprietary program or somebody else's web server, you're defenceless.
You know how on the evening news they always tell you that the stock market is up in active trading, or off in moderate trading, or trading in mixed activity, or whatever. Well, who gives a
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