Ben Felix | Cash is a terrible long-term investment, even at 5% interest @BenFelixCSI | Uploaded August 2023 | Updated October 2024, 8 hours ago.
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With a 5% return on cash, why would anyone want to invest in stocks? I know that cash feels good because its nominal value is stable - it feels safe, but it is counterintuitively extremely risky for long-term investors.

Referenced in this video:
Reaching for Yield: Evidence from Households - papers.ssrn.com/sol3/papers.cfm?abstract_id=4283008
CRASH BELIEFS FROM INVESTOR SURVEYS - nber.org/system/files/working_papers/w22143/w22143.pdf
Who Should Buy Long-Term Bonds? - aeaweb.org/articles?id=10.1257/aer.91.1.99
Portfolios for Long-Term Investors - academic.oup.com/rof/article/26/1/1/6484661
Presidential Address: Discount Rates - onlinelibrary.wiley.com/doi/10.1111/j.1540-6261.2011.01671.x
Long-Horizon Losses in Stocks, Bonds, and Bills - papers.ssrn.com/sol3/papers.cfm?abstract_id=3964908
“Buy the Dip” - pwlcapital.com/resources/buy-the-dip

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