Stocks, bonds and real estate are not the only items of value we hold. For example, back in 2001 I wrote about my investment in first edition copies of Ayn Rand s "Atlas Shrugged."

Only 100,000 were printed, making for a small float relative to the book s influence. Unclipped copies with original dust jackets sell for $4,000 or more. Compared to the S&P 500 over the same period, the asset has been a home run.

Those prices might end up looking like a bargain as public interest in the book soars. Sales hit an all-time high in 2008 and are up 300% over prior years in the first few weeks of 2009. As evidenced by Google Trends, searches of "Atlas Shrugged" are soaring. If you had an extra $5,000 right now, I d say a copy of "Atlas" is a much better store of value than shares of Bank of America (BAC) or Citigroup (C) .

Of course, rare books and other memorabilia are really the ultimate in illiquid assets. You can t expect to flip baseball cards or collectible cars as you would shares of United States Oil (USO) or Financial Select SPDR (XLF) .

For the few investors with any disposable income or risk capital left, there might be some potential values at the upcoming auction of Michael Jackson s personal property, to be held at the Beverly Hills Hilton April 22-25 despite an attempt by Jackson to back out.

The fundamental case for adding Jacko to your portfolio is obvious. Michael Jackson is arguably the most influential visual artist of the last 100 years and certainly the defining one of the video age. For Generation X and Generation Y, Michael Jackson is an unparalleled icon, bigger than Frank Sinatra. Like Andy Warhol or Roy Lichtenstein, Jackson s visual style makes many artifacts unique.

Of the 2,000 items to be auctioned, much of the merchandise is recognizable Jackson costumes, including one of his white sparkle gloves (estimated at $10,000) and the costume worn in the 1991 video for Black or White (est. $500). The MTV Video Award Moonman statue awarded to Jackson as Artist of the Decade in 1990 has a pre-auction estimate of $8,000. Many of the items are instantly recognizable, solidifying how much Jackson s video imagery is a defining part of 20th century culture.

Jackson Assets at Auction:

Lot 1374

Michael Jackson White Crystal Glove from early 1980s

Covered in clear Swarovski crystals

Estimate: $10,000-$15,000

Lot 1222

Artist of the Decade Award, 1990 MTV Video Music Awards

Estimate: $8,000-$12,000

Lot 1363

Long-sleeve, black silk shirt worn in 1991 video for Black and White

Estimate: $500-$700

Source:

Julien s Auctions

What makes the auction even more unique is that it was just a few years ago we gasped at Jackson running up a multimillion-dollar tab at a Las Vegas boutique in the 2003 documentary "Living with Michael Jackson." The orgy of spending, which seems even more bizarre given the current economy climate, starts around 2:30 into this weirdly mezmerizing clip.

EXTERNAL OBJECT PLACEHOLDER: src=http://www.youtube.com/v/ftm3jsL2NXk&hl=en&fs=1 height=344 width=425

As off-the-wall as Jackson has become, in many ways he is undertaking the same belt-tightening and debt-reduction efforts as the rest of us. His current need for liquidity will benefit an astute collector whose patience and risk capital willing to sit on these highly unusual and culturally significant artifacts.

In These Dark Times

If you re frustrated by the markets, the economy, and the country right now, you re not alone.

From high-net-worth individuals to minimum-wage workers, it seems as if everybody is scared and everybody is pissed. The consumer confidence numbers we mentioned a few weeks ago rests at an all-time low and more than 70% of respondents to the American Association of Individual Investors (AAII) sentiment poll are bears, the most pessimistic reading in the survey s history. Unemployment and foreclosures have hit new highs and the soured economy is now front-page news, every day, day after day.

Many blame excessive risk taking while others blame deadbeat homeowners. Regulators blame investors and investors blame regulators.

One thing that's certain, however, is that the collapse has been nothing short of extraordinary. Not during the 1987 crash, Asian Currency Crisis, 9/11, or the tech collapse did we see such widespread destruction of wealth over such a short period of time. According to data from Bespoke Investment Group, only 5% of stocks in the S&P 500 are trading above their 50 day-moving-averages, meaning virtually no stocks are doing well.

More than any time in recent history, there s a palpable and distinct sense that virtually everything is up for grabs in this country. Investors are looking at higher regulation, intervention and taxes. Longstanding rules, tax deductions, and regulations affecting trillions of dollars of wealth are not being reconsidered. Any of that inspire you to take a risk?

In my investment business, I deal with very wealthy individuals who own companies, lend money and allocate assets across a broad spectrum of the world economy. Let historians point fingers and assign blame. In the here and now, the political uncertainty now dominating the financial pages is sapping any incentive to put money to work.

Parting Shot

Want an insanely risky ETF full of Middle Eastern industrial companies and Arab banks? Try the PowerShares MENA Frontier Countries (PMNA), down a cool 58% over the last six months. Major holdings include Arab Bank PLC (11.43%), Emaar Properties PJSC (6.90%), Banque Marocaine du Commerce Exterieur (6.25%).

The Wild Frontier:

PowerShares MENA Frontier Countries ETF (PMNA) 6 months