How to Protect Capital without Holding Cash
How to Protect Capital Without Holding Cash
Exiting to cash feels disciplined. But the structural cost of missed compounding is the risk most portfolios underestimate.
54%
Wealth erased by missing
the 10 best trading days
Sell to cash and you miss the rebound that usually follows the fall
6 of 10
Best days that fell within
two weeks of the worst
The recovery clusters around the panic. Exit, and you forfeit both
+5 pt
60/40 excess return over
cash, per year on average
Balance, held through the cycle, outpaces the comfort of cash
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