Word: arb
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Dates: during 1980-1989
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...arbs, however, can lose fortunes in an instant if a merger agreement falls apart. These dramatic wins and wipeouts have earned arbs a reputation as Wall Street's most daring investors. Says Daniel Tisch, an arb for Wall Street's Salomon Brothers: "You can't be 100% sane to sit here and, based on 20 words on the Dow Jones wire, risk $10 million to $15 million...