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You're at a fruit market. But, instead of just being able to buy apples at this fruit market, you can also sell fruit.
You're not a farmer, so you come to the market to buy some apples and you see two fruit stands. Fruit Stand A on the left
is buying and selling apples at 50 cents apiece. However, Fruit Stand B on the right is buying and selling apples at 53 cents
apiece. People are buying and selling apples at these two stands all the time, and the price at a stand could change at any
moment. But, while you're there, apples are 50 cents and 53 cents, respectively.
You're a smart person, and you quickly
realize that you can buy apples from Stand A and then sell them across the street to Stand B and make a 3-cent profit. But
you have to do it now; you can't wait. So you buy all the apples at Stand A and then run to sell them all to Stand B.
Congratulations.
You've committed fruit-stand arbitrage.
Arbitrage is exactly that: the selling of the same item between two different
markets to make a profit off the mathematical differences in price. However, it's not apples that are traded--the goods in
question are usually stocks, currencies and other securities. Arbitrage happens when you get a stock, usually a common one
like General Electric that's traded on multiple markets (Japan, Hong Kong, U.S., etc¿). The stock is usually worth within
fractions of a penny the same on each of those markets. However, there are often some minor variations.
People who
participate in arbitrage take advantage of these variations--and make a ton of money doing it. As seen in the fruit stand
example, you can make a "riskless profit" from buying and selling apples between different markets.
There are some
big hedge funds that make almost all their money off arbitrage. But, despite this simple example, arbitrage is mathematically
complex--and involves a good portion of risk if you don't know what you're doing. You probably won't be able to participate
in arbitrage directly, but you can always invest in a mutual fund that does.
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Tuesday, July 01, 2008
Video: Nature Valley(R) Launches Save the Trails(TM) Grant Program, Supports the American Hiking Society's National Trails Fund
Comtex
MINNEAPOLIS, June 9, 2008 /PRNewswire via COMTEX/ ----More than 150 trail enthusiasts celebrated the 16th annual National Trails Day, June 7, at Scotts Run Nature Preserve, Fairfax County, Va., with the launch of the Nature Valley(R) Save the Trails(TM) grant program. The grant program is contributing $50,000 to double the size of the American Hiking Society's National Trails Fund, which provides annual monies for organizations across the United States to preserve trails. With support from Nature Valley, the 2009 National Trails Fund will award 10 non-profit organizations $5,000 to restore designated trails in their local communities. Interested parties can apply for a grant by visiting www.wheresyours.com or www.americanhiking.org. Applications are due Aug. 15, 2008; selected entries will be posted online for general public voting.
(Photo: http://www.newscom.com/cgi-bin/prnh/20080607/NATUREVALLEY )
To view the Multimedia News Release, go to: http://www.prnewswire.com/mnr/naturevalley/33439 /
For four consecutive years, Nature Valley's Save the Trails program has also provided funding for Student Conservation Association trail preservation efforts. Nature Valley committed an additional $350,000 this year for a total of $400,000 dedicated towards trail restoration. The contribution will enable more than 60 students to make the environment a priority by committing their summer vacations to repair trails in Grand Canyon, Yellowstone and Yosemite National Parks. In total, Nature Valley has committed $450,000 to trail restoration this year.
"We're grateful Nature Valley is contributing to the American Hiking Society's National Trails Fund," said Gregory A. Miller, President for the American Hiking Society. "Nature Valley's support is not only doubling the size of the grant program, it's a testament to the company's commitment to trail conservation and community activism. Together, we are spreading the message of preserving both trails and the access they provide to our nation's pristine park lands."
Since its inception in 1998, the National Trails Fund has granted nearly $340,000 to 89 different trail projects across the United States. Community preservation efforts include land acquisition, constituency building campaigns and a variety of trail work projects. With more than 200,000 miles of trails in the United States, the National Trails Fund is the only national private grants program that helps U.S. trail-maintaining organizations build and improve hiking trails and galvanize volunteers to ensure long-term trail sustainability.
"The American Hiking Society is at the forefront of protecting our nation's trails and the hiking experience," said Tyson Andrus, Nature Valley marketing. "We're pleased to support an organization with deep roots in outdoor recreation, advocacy, volunteering and hiking. Together, we're committed to maintaining nature's playgrounds for generations to come."
Non-profit organizations can apply for a 2009 National Trails Fund grant by visiting www.wheresyours.com or www.americanhiking.org. Applicants are required to upload their written application, and are encouraged to upload pictures or videos that demonstrate their organizations mission and work. Applications are due on Aug. 15, 2008. On Sept. 30, 2008, the American Hiking Society will select the top 20 submissions, based on set criteria, for voting on www.americanhiking.org. The general public will have the opportunity to vote online for their favorite entry during the entire month of October. The top 10 entries with the most votes will each receive $5,000 to repair their respective trails. Nature Valley and the American Hiking Society will announce winners in April 2009.
To learn more about the Save the Trails grant program or the National Trails Fund, please visit http:///www.wheresyours.com or http:///www.americanhiking.org. For more information on Nature Valley, please visit www.naturevalley.com.
About Nature Valley(R)
Nature Valley(R) created the granola bar category in 1975 and brings great taste to active consumers looking for wholesome snacks. Nature Valley consists of five great-tasting granola bar lines: Crunchy Granola Bars, Chewy Trail Mix Bars, Yogurt Granola Bars, Sweet & Salty Nut Granola Bars and Healthy Heart Chewy Granola Bars. Nature Valley is also the Official Natural Energy Bar of the PGA TOUR, the United States Ski and Snowboarding Association, Nature Valley NASTAR, Association of Volleyball Professionals, Cross County Ski Areas Association, Vail Resorts, Aspen Resorts, Myrtle Beach Golf Holiday and the Warren Miller Film Tour. In addition, Nature Valley is a sponsor of the Student Conservation Association and the Nature Valley Grand Prix.
About American Hiking Society
Founded in 1976, American Hiking Society is the only national, recreation-based nonprofit organization dedicated to promoting and protecting America's hiking trails, their surrounding natural areas and the hiking experience. To learn more about American Hiking Society and its mission and programs, visit www.AmericanHiking.org or call (301) 565-6704.
*Nature Valley(R) is a registered trademark of General Mills, Inc.
SOURCE Nature Valley
http://www.naturevalley.com
Copyright (C) 2008 PR Newswire. All rights reserved
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