FOX Translator
No data currently available.
No data currently available.
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.
Home
Saturday, May 17, 2008
A Georgia Teen Whips Up a Victory - The International Culinary Schools at The Art Institutes Names Best Teen Chef 2008
Comtex
LAS VEGAS, May 17, 2008 /PRNewswire via COMTEX/ ----A Georgia teen turned up the heat in the kitchen today, emerging as "Best Teen Chef 2008." Jonathan Miller of Savannah, Ga. won the Best Teen Chef Final Round Competition, sponsored by The International Culinary Schools at The Art Institutes, becoming the ninth winner to lay claim to the title since the Competition's inception in 2000. Miller won a full tuition scholarship worth more than $40,000 to study Culinary Arts at The International Culinary School at The Art Institute of Atlanta and the opportunity to serve as "Intern for a Day" at the Food Network Kitchens.
(Photo: http://www.newscom.com/cgi-bin/prnh/20080517/NESA007-a )
(Logo: http://www.newscom.com/cgi-bin/prnh/20080517/NESA007LOGO-b )
Aldo Sandoval of Emporia, Kan. and Joaquin Gaytan of Mesa, Ariz. earned second- and third-place honors, also receiving full-tuition scholarships toward an associate's degree, certificate or diploma program at one of The International Culinary Schools at The Art Institutes.
Thirty-one high school seniors from across North America converged at The International Culinary School at The Art Institute of Las Vegas to slice, dice, and saute their way through the grueling two-hour competition in pursuit of more than $250,000 in tuition scholarships and the title of Best Teen Chef 2008.
Competitors were given two hours to prepare three dishes from an Italian inspired menu of Braciole Calabresi - Stuffed Pork Bundles; Peperonata - Peppers Sauteed with Olive Oil and Capers; and Orechietti con Carciofl - Orechietti Pasta with Artichokes. The teens were judged on cleanliness, taste and presentation and more by the program's chef educators.
Miller credits his mother as his inspiration for cooking. While he was growing up, "every day we would sit together and watch 'Great Chefs of the East' and 'Great Chefs of the West,'" said Miller. "This simple, daily act instilled in me a passion I hope to turn into a career." He would like to pursue a career where he can achieve the same levels of satisfaction and pride as when he is experimenting at home.
Chef Michael Nenes, Assistant Vice President of Culinary Arts for The Art Institutes, said, "Each year, the caliber and talent of the students who compete for the title of Best Teen Chef becomes more impressive. The key to the Best Teen Chef Competition is to come with your game face on and be ready to out-cook the competition. Training, focus and determination - all qualities of the most successful chefs - are paramount. Jonathan Miller distinguished himself throughout the Competition, and the judges were very impressed with his excellent culinary skills and talent."
For more information on The Best Teen Chef Competition, visit www.artinstitutes.edu/btc.
The Art Institutes (www.artinstitutes.edu) is a system of over 40 education institutions located throughout North America, providing an important source of design, media arts, fashion and culinary arts professionals.
SOURCE The Art Institutes
http://www.edmc.com
Copyright (C) 2008 PR Newswire. All rights reserved
Market Snapshot
| Symbol | Last Price | Netchange | Volume |
|---|---|---|---|
| -- | -- | -- | -- |
| -- | -- | -- | -- |
| -- | -- | -- | -- |
| -- | -- | -- | -- |
| -- | -- | -- | -- |
