Cash is King. At least for the last 28 months.
The first chart is the cumulative total return of the S&P 500 (blue) and 3-month T-Bills (orange). The chart starts on June 30, 2021. What it shows is cash has beaten the stock market for 28 months.
And what is cash in the long run?
The second chart is one of the most famous stock market charts from Nobel Prize winner, economist and notoriously (bad) stock-predictor Jeremy Siegel. Now, cash doesn’t perform quite as good…
Sources: Jim Bianco, Jeremy Siegel
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