Category: Backfires
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Popular Arbitrage Trade Backfires as TSMC Frenzy Grows in US
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(Bloomberg) — The long-favored arbitrage strategy of buying shares of Taiwan Semiconductor Manufacturing Co. in Taipei while shorting its shares in the U.S. is starting to get painful. Most read from Bloomberg Data compiled by Bloomberg showed that enthusiasm for artificial intelligence in the United States has pushed TSMC’s American…