“Markets Enter New Phase—Where Cash Is All That Matters”
March 19, 2020
“A rush for cash shook the financial system Wednesday, as companies and investors hunkered down for a prolonged economic stall, taking the recent market turmoil into a new, more troubling liquidation phase.
Investors sold nearly everything they could in the most all-encompassing market drawdown since the darkest days of the 2008 financial crisis. Short-term money markets at the heart of the financial system were strained and large companies have drawn heavily on credit facilities while they have them…”
https://www.wsj.com/articles/markets-enter-new-phasewhere-cash-is-all-that-matters-11584546863
Cash is still king. Don’t let anybody tell you differently.