Cash Is Now A Sin

The Wall Street Journal – March 11, 2016

Once upon a time, fund managers kept plenty of cash in reserve in case the stock market tanked. Those days are gone.When stocks are overpriced, as many analysts believe they are now, your fund manager is just going to keep right on buying them.

Here are stocks, here are bonds, everything’s sunny.
Here are puts, here are calls; just DON’T ask, “show me the money.”

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