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Home > Art, Film & Photography > The Statist Volume 18; A Journal of Practical Finance and Trade
The Statist Volume 18; A Journal of Practical Finance and Trade

The Statist Volume 18; A Journal of Practical Finance and Trade


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About the Book

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1886 Excerpt: ...a small profit. It is a very "nimble ninepence" kind of business, as the whole of it has to be done in less than an hour's time after the arrival of the cables. The New York Stock Exchange opens at ten o'clock, which in London means about three o'clock in the afternoon. From a quarter past three o'clock onward the cables come pouring in. They have to be sent out from the cable offices to the offices of the arbitrage houses. There they have to be turned into sterling prices, and these compared with the London prices at the moment. Like a flash of lightning the "arbitrageur" has to decide what he will buy and what he will sell. He rushes to tho House and has his business done for him by brokers as smart and keen as himself. Then he cables back to New York to "cover" his transactions, that is, to buy against what he has sold or to sell against what he has bought. It may be also that his partner or agent in New York has entered into transactions which he must cover here if he can. The game is played simultaneously from both ends, and like duplex telegraphy there are generally two accounts of speculation crossing each other. Scores of buyings and sellings may be going on together, each of which carries a certain degree of risk, but the "arbitrageur's" hope i3 to come out right on the general balance. He makes his risks, so to speak, insure each other, and so long as the differences are comparatively small he stands a fair chance to come out well. The "arbitrageurs" themselves say that it is the small profits they make most by. A wide fluctuation in a stock, while a transaction in it is being covered, is pretty sure to end badly. If it is against the "arbitrageurs," great judgment has to be exercised in ...


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Product Details
  • ISBN-13: 9781231023143
  • Publisher: Rarebooksclub.com
  • Publisher Imprint: Rarebooksclub.com
  • Height: 246 mm
  • No of Pages: 206
  • Spine Width: 11 mm
  • Width: 189 mm
  • ISBN-10: 1231023147
  • Publisher Date: 01 May 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 376 gr


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