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    • Chapter I: The Lie of the Average
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Averaging Up

Category: Sizing

Cash as the Infinite Option

Posted on February 7, 2026April 1, 2026

Listen to the deep-dive discussion – Cash is the Infinite Option (18:41 min)   Cash as the Infinite Option The investment industry has a phrase for uninvested capital: “cash on the sidelines.” The metaphor reveals how the industry views cash—as a spectator, waiting to get in the game. During the era of near-zero interest rates,…

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