What's Portuguese For `Arb'?

Now that Ivan Boesky is back in the money, what's he doing with it? Studying foreign languages. Sporting his post-prison Howard Hughes look--shoulder-length white hair--the convicted inside trader spent the summer in Cannes, studying French.

Next, according to fellow students, the former arb wants to master Portuguese and Italian. Boesky, who claims the $100 million he paid in federal fines left him broke, owes his new life as an intellectual dilettante to the $20 million divorce settlement he reached in June with ex-wife Seema.

The four-week course at the College Internationale de Cannes, located 50 yards from the beach, isn't blow-away expensive, but it's not cheap either. The 56-year-old former financier, who classmates say lived off-campus with a girlfriend, paid $700 as a nonboarder. Fellow students say he was deeply tanned and knew all the night spots.

Still, he pulled down a B+ average, according to the school. Since he had previous training in French, he got into one of the higher-level classes.

While Boesky used his own name, he wasn't happy when students recognized him. Then, says one, Rebecca Reed, he would scowl and respond: "No comment." The few times he did chat, it was about such pursuits as jogging. Not a word about business though, in French or English.