Arbitrage and The APT
Arbitrage is the practice of taking positive expected return from overvalued or undervalued securities in the inefficient market without any incremental risk and zero additional investments.
Read more about this topic: Arbitrage Pricing Theory
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“Where beauty is worshipped for beauty’s sake as a goddess, independent of and superior to morality and philosophy, the most horrible putrefaction is apt to set in. The lives of the aesthetes are the far from edifying commentary on the religion of beauty.”
—Aldous Huxley (1894–1963)
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