That infamous Filipino couple, the Marcoses, held quite different views on investments. Wife Imelda’s portfolio was weighted heavily towards shoes (investment-grade, we’re sure; she reportedly stuffed 3,000 pairs into her closet). Her late husband, ousted dictator Ferdinand Marcos, preferred gold and a Swiss hideout.
Viewed strictly from the point of view of investments, we think Ferdinand the wiser of the two. First, Imelda’s hoard was easily uncovered soon after she and her husband fled their homeland, whereas hubby’s stash required several years of sleuthing to locate.
Second, Ferdinand bought gold (a favorite investment vehicle of ours). Shoes — all of a single size — might present liquidity problems. On the other hand, if early reports on the size of his gold hoard (1,200 tons) prove accurate, the liquidation of his stash could cause headaches, too. In fact, it already has; when news spread that he had amassed a personal Fort Knox, gold bullion prices slipped nearly US$5 per oz.
Which adds a twist to the adage that “he who has the gold has the power” — even beyond the grave.
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