In a world of increased fiscal uncertainty having cash-on-hand makes a huge difference in being able to weather storms. We are literally weathering internationa

In a world of increased fiscal uncertainty having cash-on-hand makes a huge difference in being able to weather storms. We are literally weathering international warfare in Europe, a pandemic, and uncertainty whether we are heading to a period of inflation or recession [both?]. While minimizing your cash position is smart as a hedge against inflation — dollars will be worth less tomorrow so get rid of them now — it also helps weather a bad quarter or even a bad year or two. Being cash-strapped when a stochastic negative event hits means you are suddenly FORCED to take actions you would prefer not to. Like massive layoffs, scaling back on your core offerings, or cutting off your nose for future growth business.