I was traveling most of last week, so that explains the few posts. Nevertheless, an article in Friday’s WSJ on Canary Island date palm arbitrage is fascinating. A fellow drives around suburban southern California neighborhoods looking for mature Canary Island palm trees; he then offers to buy them from the homeowner, while planning to transplan them to wealthy Beverly Hills homes and the like.
How does he do on the trade? He generally buys the trees for $2,000, while selling them for as much as $9,100. It’s a nice niece of arbitrage.
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