Subject: Re: OT Cash balances keep soaring
the "value" return on cash isn't the interest rate ... It's the incremental return it gives you the opportunity for by deploying it at a decent rate when the time comes ... It's about the pouncing.

That assumes too much which might oder not be true for individual investors.

If you are consistently(!) good with your "pouncing", yes, then this applies to you. But what about us mere mortals who can't say that about ourselves? For us the interest rate is the bird in the hand - versus maybe getting the two in the bush (IF pouncing correctly).