Sold Global Education & Technology Group

I took my profits in Global Education & Technology Group Limited (Ticker: GEDU) today at $10.86 generating a net gain of 3% over a 16 day period (67.5% annualized return). This was a nice merger arb play as it presented a quick closing time frame. I saw a more compelling opportunity in Pharmasset Inc. (Ticker: VRUS), which is being acquired by Gilead Sciences (Ticker: GILD) for $137 per share in cash. Bloomberg had a nice write up on this merger arb play regarding the wide spread in Pharmasset (Click: here). I picked up a chunk of shares at $128 and change. I’m looking at a potential 6.2% gain over a 3 month period (~20% annualized return). Some are projecting a relatively quick closing as in January. I like this risk return opportunity…