Subject: Re: "Composition of the world..."
Here is the quote, more or less, from the man himself:

'I don't mind, at all, under current conditions building the cash position, I think...when I look at the alternative..what's available in the equity markets and I look at the composition of what's going on in the world..we find it quite attractive'

more from the 2024 meeting on cash:

"I don't think anybody sitting at this table has any idea how to use it (cash) effectively and therefore we don't use it now at 5.4%, but we wouldn't use it if it was at 1%.."

As we close in on the anniversary of these comments, in the last 12 months or so, treasury bills have returned 4.8% vs. 7.60% on the SPX