The US-Canada Book Arbitrage Play

remRecently, I purchased a special annotated version of Edwin Lefevre’s classic novel Reminiscences of a Stock Operator. I took it out today to read as New York City is covered in snow and is snowing at this moment. I have read this book numerous times as I’m sure many of you have as well. If you haven’t then I highly suggest you do!  But back to my original thought, I was looking at the inside dust cover and noticed the price I paid, $34.95 USA. Then I looked at the Canadian dollar conversion, $41.95 CAN.  Hold the phone, that seems off I thought.  I took out my calculator and did the math, Usd/Cad at 1.2000!! I took one of my daughter’s books that she has been reading, Nate the Great and the Mushy Valentine, appropriate for this time of year in the US.  Sure enough, US price $4.99 Canadian price $5.99, an exchange rate of 1.2000. I think you see where I’m going with this, Usd/Cad closed the NY session at 1.0980. I can take my book  and my daughter’s (she hasn’t finished reading it yet but too bad, I talking big money here) go up to Canada sell my books and get 1.2000 cad on the dollar come back to NY and buy my US dollars back at 1.1000. That’s 10 big figures, I can’t remember the last time I made 10 big figures on one trade, can you?

I’m packing up all my books and heading to Canada, who’s with me? Oh, if you’re passing through New York City I could use a lift.

Categories: News and Commentary

Tags: , ,

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: