The secret to investing isn’t much of a secret

A friend of mine was complaining recently about the price of apples, specifically a variety marketed as a “Honeycrisp.”

He would go to the grocery store to buy a bag of apples and find Honeycrisps at $7.99 a three-pound bag. Right next to them would be Gala apples at $3.99.

“Why are Honeycrisp apples so darned expensive?” he demanded.

Honeycrisp apples are sweet but crunchy, a neat genetic trick developed by growers that creates its own demand. People love them and will pay more for them.

I don’t know much about the apple growing business of course, and supermarket pricing is a science these days.

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