Last year my girlfriend and I attended a basketball game of my favorite team, the Louisville Cardinals. While we were sitting in the stands I noticed an older gentleman who was wearing an inordinate amount of gold jewelry. Like most couples, we enjoy people watching, so I pointed him out to her and made the comment, "he must not have such a large IRA considering he's wearing it on his neck, wrists, and fingers."I was merely commenting on his preference to display his assets physically on his person, not thinking that he may have been making a large bull play on gold! He must have felt safer keeping an eye on his wealth than in a stuffy local bank "safety" deposit box, especially considering the unusually high amount of bank failures. Well, it looks like this man must have known what he was doing, considering the enormous run-up of commodities this year, namely gold and platinum. And so I'm the one who is left feeling ashamed because in all likelihood his nest egg has ballooned much more than mine in the interim. But yet somehow I feel like I will be vindicated in the long run for sticking to my belief in diversification.
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