> I would not be surprised to see equities doing worse than -10%. I wouldn’t be surprised by that either, but it’s the wrong question. As long as the expected

> I would not be surprised to see equities doing worse than -10%. I wouldn’t be surprised by that either, but it’s the wrong question. As long as the expected value of the future price (in today’s USDs) is higher than -10% I’m interested in buying (but the actual decision is a bit more complicated). But I agree cash is not necessarily a bad idea.