There was a story recently about someone finding a withdrawal receipt near an ATM in East Hampton which had a balance listed at just under $100,000,000. It was rumored to belong to a hedge fund manager called David Tepper but when asked by the New York Post he said, “I would never do something so irresponsible as to keep $100m in a savings account”.
I know there’s probably an infinite number of things you could invest $100m in, but I’m just wondering what the most basic, run-of-the-mill one is. If you won $100m on the lottery and you asked a specialist accountant for a list of options as to what to do with it in the short-term, what would the simple Option 1 be? He’d say, “well, it might not generate the best returns, but the most basic option is to keep it in…”, what?
Swiss bank account?
Or is a complicated, balanced portfolio of investments the only sensible way to store that much money?