Ben Inker, head of asset-allocation group at Boston money manager GMO, favours holding a lot of cash. He says bond yields are too low, and that equities aren't that attractively priced. Only exception is high-quality US stocks, which he feels, have more upside since they have trailed the market for the past 10 years.
He feels it is a good idea to free up some cash now, in order to exploit opportnuities later. He is currently 30% cash.
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