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- On Air
Neil Cavuto
Neil Cavuto, anchor and managing editor at FOX Business Network, is one of the most respected business journalists in America.
Alexis Glick
Alexis Glick cut her teeth on Wall Street before becoming one of the most recognized faces in business news.
Read Alexis' blog, The Glick Report
David Asman
David Asman has been a respected political and economic journalist for nearly three decades, and is a familiar face on FOX.
Cheryl Casone
Cheryl Casone is an experienced business anchor who guides us through the heart of the trading day.
Read Cheryl's blog, The Casone Exchange
Liz Claman
Liz Claman is an experienced financial journalist, known for her engaging interviews with some of the biggest names in business.
FOX Business Personality Bios
- Neil Cavuto
- Alexis Glick
- David Asman
- Cheryl Casone
- Dagen McDowell
- Liz Claman
- Adam Shapiro
- Ashley Webster
- Charles Payne
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.