Closing the Beetroot Arbitrage

By Reuters Staff
March 23, 2009

Joe Wiesenthal is a well-known finance blogger. But he will surely go down in history as the person who used the internet to close what he calls "the biggest arbitrage of all time", with the earth-shatteringly groundbreaking website that is beetswap.com.

The problem?

Some people like beets and don’t eat the greens. And some people love those iron-rich greens, but have no use for the sugary roots.

The solution?

Buyers and sellers of beet and beet greens can swap the part they don’t like with internet-speed efficiency.

This, my friends, is the true upside of the financial crisis. If the entire global economy hadn’t imploded, beetswap.com might never have seen the light of day. And then where would we be?

Reprinted from Portfolio.com

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