Word: cash
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Dates: during 1970-1979
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Ming vases? Antiques? Gold? Cattle? All can tumble out of favor and decline in price. So where is the perplexed American investor to park his extra cash and protect its value? Certainly not in a savings account. Had Phineas T. Barnum lived today, his famous dictum might well have been: There's a saver born every minute. In the inflationary 1970s, savers are suckers who stand to lose. If inflation should continue at February's 15.4% rate, every dollar put into a bank at 5¼% interest will become 91.4? in real money a year from...
Reggie Jackson, 32, outfielder, New York Yankees. The baseball millionaire chooses to invest in "tangibles," including a Volkswagen dealership in Canoga Park, Calif., a condominium project in Reno, a twin-engine Beechcraft plane, and five antique cars. Jackson advises friends: "Start building a cash reserve. And then buy things, things you can touch...
Edward Ball, 91, a senior trustee of the multimillion-dollar Alfred I. duPont estate, Jacksonville, Fla. Ball is investing his cash in what he calls "Florida sand and mud." Says he: "Real estate of almost any type is a good buy. There's only so much of it here, and there are more people every month...
Paul Samuelson, 63, economist, Belmont, Mass. He points to studies going back to the 1920s to show that "putting money out at the shortest intervals has been the best hedge against inflation." So Samuelson recommends that investors place their cash in six-month certificates of deposit in savings banks; or in the money-market funds-open-ended mutual funds that invest in short-term securities such as certificates of deposit, commercial paper and Treasury bills-that offer check-writing privileges...
Alan Greenspan, 53, economist, New York City. "First plant cash in short-term CDs, and then plan what to do with it later. Move the money out only if you find better yields elsewhere...