Hedge fund woes spell opportunity for some

A lot of hedge funds have caved as of late, and those that have survived don't have the leverage they once did. That spells opportunity for more traditional investors, who are seeing arbitrage opportunities crop up again, reports Bloomberg. Back in the day, debt-crazed hedge funds closed such spreads as fast they opened. Bloomberg notes "Super" Mario Gabelli is buying Wyeth shares to profit from its takeover by Pfizer, Cohen & Steers are scooping up closed-end funds trading at big discounts, and Huntington Asset Advisors is taking advantage of the gold-silver spread. So it looks like arbitrage is back.

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