Last month I had ISL buy a couple of TGC shares just before the moment the dividend was paid. Cost, 100 grams each. Then at noon onthe first the dividend was paid. Payment, 0.60 grams per share.
Then I had ISL sell the shares for 99.90, hence costing 0.10 gram and making a profit of 0.50 grams -- PURE ARBITRAGE! (assuming there are buyers!)
I will now have ISL buy 3 shares for 100.00 grams, and tomorrow (after noon!) ISL will sell them for say 99.75 grams.
Hence if you are (intelligently) thinking of buying some TGC shares, please wait until tomorrow afternoon and you can get 'em cheap!
It's a micro market! Market dynamics shown clearly!!!!
(Only one more dividend, is it, until the dividend increases --- allowing for more arbitrage opportunities!)
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