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Pittsburg, Kansas | I don't disagree with that. Getting 3-4 percent interest with inflation running in real terms at least 8 (in my opinion), it is for sure a losing proposition.
But I look at it from a couple different perspectives.
First is the Warren Buffet perspective. He left managing Berkshire in a 25% cash position. That is unlike him. He is a believer in staying fully invested. But with no investments looking like good buys, cash on hand provides opportunities should bargains present themselves. I'm at around 20% cash in my non farm accounts. Maybe I'll get lucky and be like Warren Buffet. :-)
The other perspective is I'm 71 years old. 72 soon if I'm lucky. I don't really need to grow wealth anymore. I have enough. There are worse things in life than having a pile of cash. | |
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$100 Silver place your bets
