On one measure, real money investors' allocation to cash is the highest in more than a decade, and now exceeds the pre-Lehman average. Some regular readers may be familiar with the methodology. JPMorgan's Nikolaos Panigirtzoglou frequently cites what he describes as the "most holistic" of the bank's positioning frameworks for assessing investor allocations across stocks, bonds and cash. The framework compares global M2 with the AUM of equities and bonds held by non-bank market participants glo
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One thought on “Cash!

  1. My boss in grad school was a finance prof who had a saying, “Something is always better than nothing … ” In keeping with that advice I just moved my grandson’s college fund from a Vanguard money fund to a much nicer FDIC-insured, non callable, 3 year brokered CD from Capital One paying 3.3%. I found several of these from Fidelity and several big banks. My Vanguard TIPs fund now yields 6.65%. Not real +, but, as the man said, better than nothing.

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