The stock market just isn’t what it used to be.
That’s what Mark Cuban had to say when he appeared on CNBC today. He slammed the allures of a market dominated by “hackers” and touted the virtues of cash.
Unlike the jittery markets today, Cuban argues, cash allows an investor to take advantage of new opportunities, and doesn’t buck to the whim of high frequency trading and fickle decisions. He adds that paying down debts with cash right now will get you “so much farther ahead.”
With cash, he says, “you’ll be able to sleep at night.”
As such, more than 50% of his portfolio is in cash.