Cash is King

The saying “Cash is King”, popularized by Volvo CEO Pehr Gylrnhammar during the 1987 market crash, has become a rallying cry during periods of market volatility. The premise seems sound, no volatility in times of market turmoil, instant liquidity to deploy capital when pricing seems reasonable, and we all know having cash on hand for private transactions certainly beats the questions that come with check or credit. But is this always the case?