arbitrage

“We want people that are informed, because informed people make for better forecasts. If you’re smart and you can understand things like arbitrage opportunities, you can make money when people make pricing mistakes. That’s a lot more sophisticated than saying, ‘Gimme $20 on Kamala Harris.’

Mr. Boesky brought an aggressive style to the once-sleepy world of arbitrage, the buying and selling of stocks in companies that appear to be takeover targets.

“Running a public company as a private fiefdom for the benefit of a controlling shareholder adversely affects minority investors and is a disincentive for outside investment,” Simon Waxley, head of equity arbitrage at Whitebox, said in a statement to The New York Times.

His other major credits include “An American Crime,” “Arbitrage,” “All Is Lost,” “That Awkward Moment,” “The Birth of a Nation,” “Malcolm & Marie” and “Irma Vep.”

There are many reasons cited for that - one of which is that asset managers tend to build bond positions via futures before sourcing cash bonds later on and hedge funds on the other side of that trade use short futures trades to arbitrage anomalies between cash and futures prices.