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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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Monday, May 05, 2008
Architect David Rockwell & KaBOOM! Collaborate on New Generation of 'Free Play' Spaces to be Built Across the U.S.
Comtex
NEW YORK, May 5, 2008 /PRNewswire via COMTEX News Network/ ----Architect David Rockwell of Rockwell Group and KaBOOM!, the foremost national not for profit dedicated to bringing play back into the lives of children, today announced a partnership to develop and implement a new generation of play spaces across the United States, based on the play value concepts of Imagination Playground (www.imaginationplayground.org), the Rockwell Group's design for a playground in lower Manhattan.
Rockwell Group created Imagination Playground, which will break ground this summer, to embody the concept of unstructured, child directed "free play," where children direct their own activities, alone and with their peers. Rockwell Group has worked closely with the New York City Department of Parks and Recreation on the initiative.
"We have always hoped to make the Imagination Playground concept available to communities nationwide," said David Rockwell, founder and CEO of Rockwell Group. "We could not be more thankful to KaBOOM! for helping make that dream a reality."
KaBOOM! has spent 12 years building play spaces using a community build model, where they partner with corporations, foundations and private donors. Creating opportunities and tools for building playgrounds, KaBOOM! will extend their play platform by incorporating the Imagination Playground model into an expandable collection of its trademark parts to supplement existing playgrounds and form the basis for new play spaces.
"KaBOOM! believes that play is a matter of national importance. We can't wait to bring some of the most innovative, yet old-fashioned concepts in play back to children across the country. By adding sand, water, loose parts, and play associates to what KaBOOM! already offers, we're going to revolutionize your neighborhood playground," said Darell Hammond, co-founder and CEO of KaBOOM!
Rockwell Group has designed three scalable and expandable playgrounds that include elements of Imagination Playground. They can be installed in existing parks and play areas or newly developed ones, taking into account site, budget, logistics, and available supervision. Rockwell Group and KaBOOM! will also develop Imagination Playground "free play" education and advocacy tools and channels.
The three playground designs are described below. Each utilizes loose parts, designed by Rockwell Group, and found parts, along with sand and water, to create a unique play space for children.
-- Imagination Playground Site Specific - a fixed playground unique to a site (like the one designed for Burling Slip near the South Street Seaport in lower Manhattan). -- Imagination Playground in a Big BOX - Fitted out shipping container containing a variety of loose parts as an anchor for new playground development. The container can be landscaped into an existing or new site. -- Imagination Playground in a BOX - a metal box on wheels containing a variety of loose parts, blocks and found items. Imagination Playground in a BOX can be layered into existing playgrounds as well as used in schools (indoors/outdoors), apartment complexes, street fairs, summer camps, hospitals, airports, and post-emergency settings.
The first Imagination Playground in a BOX will open in Brownsville, Brooklyn this summer. KaBOOM! is sponsoring the Imagination Playground in a BOX, its first in New York City.
KaBOOM! will also look to incorporate Imagination Playground into existing playground builds they have planned, allowing children to play in diverse and creative ways in an environment that can be manipulated. KaBOOM! builds more than 230 playgrounds a year. They work with local community groups to design and build the playground from scratch. Since their founding in 1995, they have raised more than $100 million to build 1,400 playgrounds in cities across North America, which serve more than 3 million children.
Imagination Playground is designed to allow kids to use their creativity to play freely with loose and found parts, and other equipment, rather than prescribed activities. In its place are the raw materials of creativity and sensory exploration, such as sand and water, as well as play props, including building blocks, buckets, shovels, wheelbarrows, and other safe tools that facilitate children's play. These elements will enable children to play in an intuitive way: build something, tear it down, and start all over again.
Rockwell Group is an award winning, cross-disciplinary 250-person architecture and design practice founded by David Rockwell. Based in New York City, Rockwell Group specializes in hospitality, cultural, healthcare, theater and film design. Recent commissions include the Children's Hospital at Montefiore, the Elinor Bunin-Munroe Film Center, the Ertegun Jazz Hall of Fame at the Time Warner Center; Town restaurant and Chambers hotel (New York City); W New York and W Union Square (New York City); the renovation of the FAO Schwarz Flagship on Fifth Avenue; Cirque du Soleil (Orlando, Florida); the Broadway musicals "Hairspray" and "Dirty Rotten Scoundrels"; the Academy Awards' Kodak Theatre; and numerous restaurants located internationally including New York restaurants Nobu Fifty Seven, Country, Bar Americain, as well as Gordon Ramsay's Maze in London and Roppongi Hills in Tokyo. www.rockwellgroup.com.
KaBOOM! is a national non-profit organization that envisions a great place to play within walking distance of every child in America. Since 1995, KaBOOM! has used its innovative community-build model to bring together business and community interests to construct more than 1,400 new playgrounds, skateparks, sports fields and ice rinks across North America. KaBOOM! also offers a variety of resources, including an online community, regional and national trainings, grants, publications and the KaBOOM! National Campaign for Play, which includes Playful City USA and the Playmaker Network -- a national network of individual advocates for play. Headquartered in Washington, D.C., KaBOOM! also has offices in Chicago, Atlanta and San Mateo, Calif. www.kaboom.org.
CONTACTS: Rachel Carr, 212/685-4300 Dan Klores Communications for Rockwell Group Alison Risso, 202/464.6186 KaBOOM!
SOURCE KaBOOM!
http://www.kaboom.org
Copyright (C) 2008 PR Newswire. All rights reserved
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