Sitting on cash? What’s your next move?
- June 1, 2024: Vol. 11, Number 6

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Sitting on cash? What’s your next move?

by Seth Meyer

Chess is a unique game in that winning is almost entirely dependent on skill and strategy. There are no dice, shuffled cards or random numbers; there is no element of chance or luck. For the best chess players in the world, the grandmasters, their key strategic strength lies in their ability to think many moves ahead across multiple lines of play.

Their end goal? The checkmate — to win the game.

Investing and chess are alike in that strategy is critical to success. Notwithstanding the risk of the unknown in financial markets, strategy is a vital aspect of investing.

This is of topical importance because in the United States alone there is currently more than $6.3 trillion sitting in cash (or money market funds), more than at any point in history and almost double compared with five years ago. The key drivers of this trend have been a combination of excess liquidity that entered the financial system in response to COVID-19 and the higher yields on offer followi

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