{"id":3829,"date":"2012-03-15T21:40:06","date_gmt":"2012-03-16T01:40:06","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=3829"},"modified":"2012-03-15T21:40:06","modified_gmt":"2012-03-16T01:40:06","slug":"the-myth-of-cash-on-the-sidelines-an-update-the-big-picture","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2012\/03\/15\/the-myth-of-cash-on-the-sidelines-an-update-the-big-picture\/","title":{"rendered":"The Myth Of Cash On The Sidelines \u2013 Jim Bianco | The Big Picture"},"content":{"rendered":"<p>Last Thursday the Federal Reserve released its quarterly Flow of Funds data, current through December 2011. One of the more popular headlines from this data concerns the record amount of \u201ccash on the sidelines.\u201d Through Q4 2011, nonfarm nonfinancial corporate businesses held $2.23 trillion in liquid assets on their balance sheets. As the argument goes, this must be a sign of pent-up demand just waiting to be unleashed on the market.<\/p>\n<p>The chart below shows liquid assets as a percentage of total nonfarm nonfinancial corporate business assets since 1952. By this measure, the \u201ccash on the sidelines\u201d argument is far less compelling.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.ritholtz.com\/blog\/wp-content\/uploads\/2012\/03\/cd4.png?w=525\" alt=\"Liquid Assets as a Percentage of Total Nonfarm Nonfinancial Corporate Business Assets\" \/><\/p>\n<p>via <a href=\"http:\/\/www.ritholtz.com\/blog\/2012\/03\/the-myth-of-cash-on-the-sidelines-%e2%80%93-an-update-2\/?utm_source=feedburner&amp;utm_medium=email&amp;utm_campaign=Feed%3A+TheBigPicture+%28The+Big+Picture%29\">The Myth Of Cash On The Sidelines \u2013 An Update | The Big Picture<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Last Thursday the Federal Reserve released its quarterly Flow of Funds data, current through December 2011. One of the more popular headlines from this data concerns the record amount of \u201ccash on the sidelines.\u201d Through Q4 2011, nonfarm nonfinancial corporate businesses held $2.23 trillion in liquid assets on their balance sheets. As the argument goes, &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2012\/03\/15\/the-myth-of-cash-on-the-sidelines-an-update-the-big-picture\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;The Myth Of Cash On The Sidelines \u2013 Jim Bianco | The Big Picture&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5,34],"tags":[827,2115],"class_list":["post-3829","post","type-post","status-publish","format-standard","hentry","category-economy","category-us-canada-countries-regions","tag-corporate-cash-assets","tag-liquid-assets"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The Myth Of Cash On The Sidelines \u2013 Jim Bianco | The Big Picture - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Myth Of Cash On The Sidelines \u2013 Jim Bianco | The Big Picture - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Last Thursday the Federal Reserve released its quarterly Flow of Funds data, current through December 2011. One of the more popular headlines from this data concerns the record amount of \u201ccash on the sidelines.\u201d Through Q4 2011, nonfarm nonfinancial corporate businesses held $2.23 trillion in liquid assets on their balance sheets. As the argument goes, &hellip; Continue reading &quot;The Myth Of Cash On The Sidelines \u2013 Jim Bianco | The Big Picture&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2012\/03\/15\/the-myth-of-cash-on-the-sidelines-an-update-the-big-picture\/\" \/>\n<meta property=\"og:site_name\" content=\"the patient investor\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=61572934660810\" \/>\n<meta property=\"article:published_time\" content=\"2012-03-16T01:40:06+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/www.ritholtz.com\/blog\/wp-content\/uploads\/2012\/03\/cd4.png\" \/>\n<meta name=\"author\" content=\"ColinTwiggs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"ColinTwiggs\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/03\/15\/the-myth-of-cash-on-the-sidelines-an-update-the-big-picture\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/03\/15\/the-myth-of-cash-on-the-sidelines-an-update-the-big-picture\/\"},\"author\":{\"name\":\"ColinTwiggs\",\"@id\":\"https:\/\/thepatientinvestor.com\/#\/schema\/person\/cb072791ac83e8bae585007c133d54a5\"},\"headline\":\"The Myth Of Cash On The Sidelines \u2013 Jim Bianco | The Big Picture\",\"datePublished\":\"2012-03-16T01:40:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/03\/15\/the-myth-of-cash-on-the-sidelines-an-update-the-big-picture\/\"},\"wordCount\":123,\"commentCount\":2,\"publisher\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/03\/15\/the-myth-of-cash-on-the-sidelines-an-update-the-big-picture\/#primaryimage\"},\"thumbnailUrl\":\"http:\/\/www.ritholtz.com\/blog\/wp-content\/uploads\/2012\/03\/cd4.png\",\"keywords\":[\"corporate cash assets\",\"liquid assets\"],\"articleSection\":[\"Economy\",\"US &amp; Canada\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/thepatientinvestor.com\/index.php\/2012\/03\/15\/the-myth-of-cash-on-the-sidelines-an-update-the-big-picture\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/03\/15\/the-myth-of-cash-on-the-sidelines-an-update-the-big-picture\/\",\"url\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/03\/15\/the-myth-of-cash-on-the-sidelines-an-update-the-big-picture\/\",\"name\":\"The Myth Of Cash On The Sidelines \u2013 Jim Bianco | The Big Picture - the patient investor\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/03\/15\/the-myth-of-cash-on-the-sidelines-an-update-the-big-picture\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/03\/15\/the-myth-of-cash-on-the-sidelines-an-update-the-big-picture\/#primaryimage\"},\"thumbnailUrl\":\"http:\/\/www.ritholtz.com\/blog\/wp-content\/uploads\/2012\/03\/cd4.png\",\"datePublished\":\"2012-03-16T01:40:06+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/03\/15\/the-myth-of-cash-on-the-sidelines-an-update-the-big-picture\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/thepatientinvestor.com\/index.php\/2012\/03\/15\/the-myth-of-cash-on-the-sidelines-an-update-the-big-picture\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/03\/15\/the-myth-of-cash-on-the-sidelines-an-update-the-big-picture\/#primaryimage\",\"url\":\"http:\/\/www.ritholtz.com\/blog\/wp-content\/uploads\/2012\/03\/cd4.png\",\"contentUrl\":\"http:\/\/www.ritholtz.com\/blog\/wp-content\/uploads\/2012\/03\/cd4.png\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/03\/15\/the-myth-of-cash-on-the-sidelines-an-update-the-big-picture\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/thepatientinvestor.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"The Myth Of Cash On The Sidelines \u2013 Jim Bianco | The Big Picture\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/thepatientinvestor.com\/#website\",\"url\":\"https:\/\/thepatientinvestor.com\/\",\"name\":\"The Patient Investor\",\"description\":\"Smart. 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But as the ETF industry expanded, many have realized the benefits of alternative weighting strategies as a number of them outdid their cap-weighted counterparts. More recently these strategies have waded into fixed\u2026","rel":"","context":"In &quot;Fixed Income&quot;","block_context":{"text":"Fixed Income","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/fixed-income\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":22587,"url":"https:\/\/thepatientinvestor.com\/index.php\/2020\/11\/11\/low-interest-rates-no-free-lunch\/","url_meta":{"origin":3829,"position":2},"title":"Low interest rates: No free lunch","author":"Colin Twiggs","date":"November 11, 2020","format":false,"excerpt":"Total assets of commercial banks in the US spiked up by $2.5 trillion (T) in the three months ending April 2020. Since then, total assets have contracted slightly (-$117bn) but, while total assets have hardly changed, this hides some far sharper changes in the composition. Consumers Consumer loans fell sharply\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":19613,"url":"https:\/\/thepatientinvestor.com\/index.php\/2020\/01\/11\/playing-the-long-game\/","url_meta":{"origin":3829,"position":3},"title":"Playing the long game","author":"Colin Twiggs","date":"January 11, 2020","format":false,"excerpt":"Chart for the Week GDP growth is slowing, while US corporate profits (before tax) are also declining as a percentage of GDP. Yet the S&P 500 and other major indices are rising, lifted by Fed liquidity injections in the repo market. The red line shows total assets on the Fed's\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":15251,"url":"https:\/\/thepatientinvestor.com\/index.php\/2017\/05\/08\/chinas-great-cleansing-has-begun-basis-point\/","url_meta":{"origin":3829,"position":4},"title":"China&#8217;s Great Cleansing Has Begun | Basis Point","author":"ColinTwiggs","date":"May 8, 2017","format":false,"excerpt":"From David Chin at Basis Point: ....China\u2019s commodity futures markets are the \u2018canary in the coalmine\u2019 for hints that the markets may be in for an even wilder ride. Most WMPs [wealth management products] have a maturity between 1-4 months and managers of these WMPs need their Chinese retail investors\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":50609,"url":"https:\/\/thepatientinvestor.com\/index.php\/2024\/03\/29\/gold-breaks-2200-per-ounce-setting-a-new-target\/","url_meta":{"origin":3829,"position":5},"title":"Gold breaks $2200 per ounce, setting a new target","author":"Colin Twiggs","date":"March 29, 2024","format":false,"excerpt":"Gold broke resistance at $2200, closing at $2232.75 and confirming our target of $2400 per ounce. Expect retracement to test the new support level but respect is likely and would signal a fresh advance. The iAu99.99 contract on the Shanghai Gold Exchange is quoted at 521 RMB\/gram which converts to\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"Spot Gold","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-03-28-gold2.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-03-28-gold2.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-03-28-gold2.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/3829","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=3829"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/3829\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=3829"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=3829"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=3829"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}