Christopher Pavese: Why Hold Cash?

Why Hold Cash? by Christopher Pavese, The View from the Blue Ridge There’s a lot to be said when the world is going a little crazy around you, to at least put yourself in a position that if something really unpleasant happens, that it might be unpleasant but will be a non-event in terms of changing your life.”   – Charlie Munger, Wesco 2006 Annual Meeting In our view, the best way to prepare for a “non-event” is to keep some dry powder on hand.  With that in mind, here are a few points from a recent Long Leaf white paper on…