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I say things on Twitter

2/23/09

Chart of the day is......

.....Troy Resources, showing the arb between the Australian listing (TRY.ax) and the Canadian listing (TRY.to), six month time period.

Note:
1) Australia is the price driver (significantly higher volumes traded, too)
2) Any arbitrage gap is always closed in any short-term period.
3) The gap at present is 12%.

Just sayin'.

Meanwhile and completely OT, via Felix Salmon watch a 2 minute video of Cur Allen Stanford's 2008 appearance on CNBC. It contains some serious bootlicking from the CNBC marionette and a classic line from Stanford himself:

"I think we're gonna see a lot of problems surfaced in the first quarter of 09"

He wasn't referring to himself, though.