The Wall Street MBA, Second Edition, 2nd Edition

Chapter | 12CURRENCY

In my younger days, I experienced the complexities of international currency exchange through intensive research and practical application. I eventually learned not only how to manage currency fluctuations but also how to profit from them. For example, I learned that nearly identical products sold in different countries can have major price differences when currency exchange is factored into the equation. Furthermore, I realized that directional shifts in currency exchange rates could allow one to hedge against, or even profit from, those shifts. My extensive study of those markets led me to achieve the ultimate currency arbitrage when I scored a better deal buying the CD ABBA Oro with pesos than buying the CD ABBA Gold