On today’s “Closing Bell” Maria Bartiromo asked Jim Grant, the editor of Grants Interest Rates Observer, where can you find yield in this market.
Grant responded with, “You know what you do, you plant Black walnut trees and in 30 years they flower into $1,000 each and you pay five bucks for them. That’s at zero coupon tree, Maria.”
We expect that he’s only joking.
Anyway, in terms of trees species, Black walnuts (Juglans nigra) are valuable for their high-quality wood and they also produce edible nuts, according to the University of Minnesota’s College of Natural Resources.
The walnut shell is also used commercially in abrasive cleaning, cosmetics, and oil well drilling and water filtration.
Here’s an image of Black walnut tree.
Photo: Wikimedia Commons