Bilateral Arbitrage - FOREX

[acumenjay1]

Hi,
I found this related link:
http://www.analystforum.com/phorums/read.php?11,143584,143584#msg-143584

But it isn't really is not definitive. When I read Shweser it just goes over Covered Interest Arbitrage and Interest Rate Parity mostly. When I read Chapter 1 of Intl Investments (Solnik & McLeavey), it dives right into Bilateral Arbitrage on pg 11 and then triangular arbitrage on pg 12.. After talking with a colleage who just sat for L2, he said not to worry about bilateral for L1 but that I would need to know triangularl arbitrage for L2. I can't find anything specific on it in the LOS statements but I mean it's right in the first chapter. At what point does this book divert from L1 to L2 material or is it just all mixed in? Should I just go with Schweser primarily and not waste my time deciphering Intl Investments until I get to L2 (God willing)?
Thanks for any insight anyone could provide on this.

 

[CFAZod]

LOS:

"calculate and interpret currency cross rates, given two spot exchange quotations
involving three currencies;"

The Study Outline does not specify page numbers for Chapter 1 (Solnik & McLeavy). The LOSs do not specifically mention Bilateral Arbitrage or Trilateral Arbitrage.

 

[acumenjay1]

Thx for the confimation Zod. I'm putting the INTL INV book down until I get to alternative investments section. I think it gets a little too deep for most of what's on L1 anyway.