Читать книгу Predatory Trading and Crowded Exits - James Clunie - Страница 24

Source: Data Explorers and Thomson Reuters

Two important lessons emerge for traders.

First, they should seek as much trading flexibility as possible (i.e. a broadly-worded mandate).

Secondly, they should approach any new capital instrument as an opportunity for capital-structure arbitrage; immediately reading the prospectus or similar documentation so as to understand the relationships within the new capital structure. Together, these should allow the trader to exploit mis-pricing opportunities that arise as a result of market segmentation.