4 ms·

see also at Bloomberg, "Arbitrage Discovered": https://www.bloomberg.com/view/articles/2015-02-27/arbitrage-discovered https://www.bloomberg.com/view/articles/2

• phasetransition 8y ago
  Yes. One of my personal favorite Matt Levine pieces, and the underlying story is nuts, too.
• wskinner 8y ago
  This is also a great piece - it’s how I found the article myself.
  • tanderson92 8y ago
    I figured as much, since a similar insurance contract story was in Friday's newsletter and linked to this piece.