[mywittyname]

I don't consider investments over cash to be clearly better. There is the idea of a "cash is king" economy, when investments are exceedingly cheap due to liquidity in the market. But to capitalize on these events, you need to have the cash on hand for it.

Berkshire Hathaway is well known for sitting on mountains of cash if they don't have access to what they feel are good investments.

[pmart123]

Isn’t he operating a VC fund? Shouldn’t he just be doing capital calls for the fund when needed versus sitting on cash typically?

[perl4ever]

I've read recently that some if not all brokers are largely supported on the money they make on uninvested cash balances, so they actually would be better off if their customers didn't do anything.