Largest Arbitrage Ever Documented

[daleholborow]

Friend sent me this, it kinda kicks the EMH in the teeth

FT Alphaville The largest arbitrage ever documented

Haven't finished reading this in detail, but it looks interesting.

 

[iHateVariance]

great article. thnx. in his other paper there is even greater quote.

“So there's an arbitrage. So what? This desk has lost a lot of money on arbitrages. Arbitrages aren't particularly great trades.” -Treasury bond trader at a major Wall Street investment bank