Harvey Jones at Motley Fool thinks that cash is dead.
So farewell cash. You were much admired in your prime, the people’s investment, loved by the masses. Many went as far as to say that cash was king. Your slow decline over the last seven years or so has been painful to behold. At least now the misery is over...
Cash is dead. Long live shares!
Ironically, if enough people think that cash is dead, the contrarian strategy would be to move to cash.
However, a move to cash now cannot be considered contrarian.
Bank of America Merrill Lynch reported last Friday that investors pulled cash out of global equity funds again in the latest week, bringing outflows over the last five weeks to the highest level in almost five years.