FOX Translator
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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.
Home / Markets / Industries / Telecom
Wednesday, July 23, 2008
Leap Schedules Second Quarter 2008 Earnings Release and Conference Call for August 5, 2008
Comtex
SAN DIEGO, Jul 23, 2008 (BUSINESS WIRE) ----Leap Wireless International, Inc. (NASDAQ:LEAP), a leading provider of innovative and value-driven wireless communications services, announced today that it plans to release financial and subscriber results for the second quarter ended June 30, 2008, before market open on Tuesday, August 5, 2008. Following the release, Leap management will host a conference call with live webcast to discuss these results. Other forward-looking and material information may also be discussed during this call.
Conference call details:
-- Date: Tuesday, August 5, 2008
-- Time: 8:30 a.m. ET/5:30 a.m. PT
-- Domestic dial-in number: 1-800-638-4817
-- International dial-in number: 1-617-614-3943
-- Participant passcode: 46142173
If listening via telephone, the accompanying presentation slides may be accessed by visiting, http://investor.leapwireless.com. Listeners should navigate to the webcast and choose the 'Live Phone' option to view the slides in conjunction with the live conference call. Individuals dialing into the live call are encouraged to call in 15 minutes prior to the start time in order to register and be placed into the call.
To listen live via webcast and view accompanying presentation slides visit http://investor.leapwireless.com. Please choose the 'webcast' option to view the slides in conjunction with the webcast.
An online replay and downloadable MP3 of the event will be available on the Company's website shortly after the live call and will be accessible for a limited period of time. A telephonic replay will be available two hours after the call's completion and can be accessed by dialing 1-888-286-8010 (domestic) or 1-617-801-6888 (international) and entering conference ID number 56923116.
About Leap
Leap provides innovative, high-value wireless services to a fast-growing, young and ethnically diverse customer base. With the value of unlimited wireless services as the foundation of its business, Leap pioneered its Cricket(R) service. The Company and its joint ventures operate in 29 states and hold licenses in 35 of the top 50 U.S. markets. Through its affordable, flat-rate service plans, Cricket offers customers a choice of unlimited voice, text, data and mobile Web services. Headquartered in San Diego, Calif., Leap is traded on the NASDAQ Global Select Market under the ticker symbol "LEAP." For more information, please visit www.leapwireless.com.
SOURCE: Leap Wireless International, Inc.
Leap Contacts: Greg Lund, Media Relations 858-882-9105 glund@leapwireless.com or Amy Wakeham, Investor Relations 858-882-6084 awakeham@leapwireless.com
Copyright Business Wire 2008
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