A diary of the thought process behind my investment decisions
Closed ESRX/MHS Arb Trade
I closed out my Express Scripts/Medco arbitrage trade. The spread has come in to 22.75% from 27% when I put it on last week. I still think this spread is way too high, but I am not an arb and this deal does have some risk. I thought the closing of the Petrohawk deal would serve as a catalyst to close the spread and it did.