Beyond Arbitrage: How to Take Your Business to Another Level

Beyond Arbitrage: How to Take Your Business to Another Level
Author: Ryan Reger
Publisher: CreateSpace
Total Pages: 116
Release: 2015-03-20
Genre:
ISBN: 9781508978510

The number one question we hear from other sellers is "Where do I find inventory for my business?" If you sell online let me ask you this..... Are you tired of trekking from store to store to find quality inventory to sell? When you do find good inventory, are you tired of other sellers dropping the prices to a point that it's no longer profitable? Would you like to find sources for inventory that you can replenish over and over? Do you wish you could pick up the phone or send an email to place an order and never even have to touch that inventory? If you're ready to take your business to the next level then Beyond Arbitrage is for you. In Beyond Arbitrage, John Bullard Sr and Ryan Reger lay out exactly how to find quality wholesale sources of inventory.

Beyond Arbitrage

Beyond Arbitrage
Author: John Howland Cochrane
Publisher:
Total Pages: 84
Release: 1996
Genre: Arbitrage
ISBN:

It is often useful to price assets and other random payoffs by reference to other observed prices rather than construct full-fledged economic asset pricing models. This approach breaks down if one cannot find a perfect replicating portfolio. We impose weak economic restrictions to derive usefully tight bounds on asset prices in this situation. The bounds basically rule out high Sharpe ratios - `good deals' - as well as arbitrage opportunities. We present the method of calculation, we extend it to a multiperiod context by finding a recursive solution, and we apply it to option pricing examples including the Black-Scholes setup with infrequent trading, and a model with stochastic stock volatility and a varying riskfree rate.

Beyond Arbitrage

Beyond Arbitrage
Author: John H. Cochrane
Publisher:
Total Pages: 63
Release: 2009
Genre:
ISBN:

One often wants to value a given asset or risky payoff by reference to observed prices of other assets rather than by exploiting full-fledged economic models. However, this approach breaks down if one cannot find a perfect replicating portfolio. We impose weak economic restrictions to derive usefully tight bounds on asset prices in this situation. The bounds basically rule out high Sharpe ratios - quot;good dealsquot; - as well as arbitrage opportunities. We show how to calculate the price bounds in two-period, multiperiod and continuous time contexts. We show that the multiperiod problem can be solved recursively as a sequence of two-period problems. We calculate bounds in option pricing examples including infrequent trading, an option written on a nontraded event, and in an environment with stochastic stock volatility and a varying riskfree rate.

Convertible Arbitrage

Convertible Arbitrage
Author: Nick P. Calamos
Publisher: John Wiley & Sons
Total Pages: 306
Release: 2011-01-19
Genre: Business & Economics
ISBN: 1118045661

Minimize risk and maximize profits with convertible arbitrage Convertible arbitrage involves purchasing a portfolio of convertible securities-generally convertible bonds-and hedging a portion of the equity risk by selling short the underlying common stock. This increasingly popular strategy, which is especially useful during times of market volatility, allows individuals to increase their returns while decreasing their risks. Convertible Arbitrage offers a thorough explanation of this unique investment strategy. Filled with in-depth insights from an expert in the field, this comprehensive guide explores a wide range of convertible topics. Readers will be introduced to a variety of models for convertible analysis, "the Greeks," as well as the full range of hedges, including titled and leveraged hedges, as well as swaps, nontraditional hedges, and option hedging. They will also gain a firm understanding of alternative convertible structures, the use of foreign convertibles in hedging, risk management at the portfolio level, and trading and hedging risks. Convertible Arbitrage eliminates any confusion by clearly differentiating convertible arbitrage strategy from other hedging techniques such as long-short equity, merger and acquisition arbitrage, and fixed-income arbitrage. Nick Calamos (Naperville, IL) oversees research and portfolio management for Calamos Asset Management, Inc. Since 1983 his experience has centered on convertible securities investment. He received his undergraduate degree in economics from Southern Illinois University and an MS in finance from Northern Illinois University.

Arbitrage Theory in Continuous Time

Arbitrage Theory in Continuous Time
Author: Tomas Björk
Publisher: OUP Oxford
Total Pages: 600
Release: 2009-08-06
Genre: Business & Economics
ISBN: 0191610291

The third edition of this popular introduction to the classical underpinnings of the mathematics behind finance continues to combine sound mathematical principles with economic applications. Concentrating on the probabilistic theory of continuous arbitrage pricing of financial derivatives, including stochastic optimal control theory and Merton's fund separation theory, the book is designed for graduate students and combines necessary mathematical background with a solid economic focus. It includes a solved example for every new technique presented, contains numerous exercises, and suggests further reading in each chapter. In this substantially extended new edition Bjork has added separate and complete chapters on the martingale approach to optimal investment problems, optimal stopping theory with applications to American options, and positive interest models and their connection to potential theory and stochastic discount factors. More advanced areas of study are clearly marked to help students and teachers use the book as it suits their needs.

The Complete Arbitrage Deskbook

The Complete Arbitrage Deskbook
Author: Stephane Reverre
Publisher: McGraw Hill Professional
Total Pages: 526
Release: 2001-05-21
Genre: Business & Economics
ISBN: 0071381244

The Complete Arbitrage Deskbook explains every aspect of the types, instruments, trading practices, and opportunities of modern equity arbitrage. It travels beyond U.S. borders to examine the worldwide opportunities inherent in arbitrage activities and demonstrates how to understand and practice equity arbitrage in the global professional environment. Written specifically for traders, risk managers, brokers, regulators, and anyone looking for a comprehensive overview of the field of equity arbitrage, this groundbreaking reference provides: Details of the financial instruments used in equity arbitrage—stocks, futures, money markets, and indices Explanations of financial valuation and risk analysis, tailored to the characteristics of the underlying position and market environment Examples of actual arbitrage situations—presenting a real-life snapshot of equity arbitrage in actionThe Complete Arbitrage Deskbook is the only book to combine operational details with practical analysis of modern equity arbitrage. Concise in explanation yet comprehensive in scope, it provides an integrated overview of both the practices and the possibilities of the modern equity arbitrage marketplace.

Merger Arbitrage

Merger Arbitrage
Author: Thomas Kirchner
Publisher: John Wiley & Sons
Total Pages: 533
Release: 2016-04-18
Genre: Business & Economics
ISBN: 1118736354

Mitigate risk and increase returns with an alternative hedge fund strategy Merger Arbitrage: How to Profit from Event-Driven Arbitrage, Second Edition is the definitive guide to the ins and outs of the burgeoning merger arbitrage hedge fund strategy, with real-world examples that illustrate how mergers work and how to take advantage of them. Author Thomas Kirchner, founder of the Pennsylvania Avenue Event-Driven Fund, discusses the factors that drove him to invest solely in merger arbitrage and other event-driven strategies, and details the methods used to incorporate merger arbitrage into traditional investment strategies. And while there is always a risk that a deal will fall through, the book explains how minimal such risks really are when the potential upside is factored in. Early chapters of the book focus on the basics of the merger arbitrage strategy, including an examination of mergers and the incorporation of risk into the arbitrage decision. Following chapters detail deal structures, financing, and legal aspects to provide the type of in-depth knowledge required to execute an effective investment strategy. The updated second edition stresses new, increasingly relevant information like: Worldwide legal deal regimes UK takeover code UK takeover code global offspring Regulators around the world The book provides clear, concise guidance on critical considerations including leverage and options, shorting stocks, and legal recourse for inadequate merger consideration, allowing readers to feel confident about trying a new investment strategy. With simple benefits including diversification of risk and return streams, this alternative hedge fund strategy has a place in even the most traditional plan. Merger Arbitrage: How to Profit from Event-Driven Arbitrage, Second Edition provides the information that gives investors an edge in the merger arbitrage arena.

Tax Arbitrage

Tax Arbitrage
Author: Nigel Feetham
Publisher: Spiramus Press Ltd
Total Pages: 209
Release: 2011
Genre: Business & Economics
ISBN: 1907444432

Press coverage has often shown little understanding of the distinction between tax avoidance and tax evasion, describing the legitimate behaviour of taxpayer banks, financial institutions and multinational businesses in emotive terms and often inaccurately. This book aims to look at tax arbitrage, and demystify its practice.

Beyond the Random Walk

Beyond the Random Walk
Author: Vijay Singal
Publisher: Financial Management Association Survey and Synthesis Series
Total Pages: 369
Release: 2006
Genre: Business & Economics
ISBN: 0195304225

In an efficient market, all stocks should be valued at a price that is consistent with available information. But as financial expert Singal points out, there are circumstances under which certain stocks sell at a price higher or lower than the right price. Here he discusses ten such anomalous prices and shows how investors might--or might not--be able to exploit these situations for profit.