Contrarian Investment Strategy as PE Arbitrage

As a mathematical physicist and an actual arbitrageur (as opposed to armchair arbitrageur), I have a broader view of the arbitrage concept than many people. The original concept of arbitrage, its purest form, is simultaneous long buying and short selling of similar objects with no risk. For example, simultaneously, buy U.S. dollars with Euros, in London, and sell U.S. dollars for Euros, in Jakarta, for two slightly different prices to make a so-called spread, the difference between the prices in the two markets. Another type of currency arbitrage, which can be done in one market, is triangle arbitrage, using three currencies that are somehow out of alignment with one another. As another example of arbitrage, we might conceive of

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