Discounted Cash is King in 2018

Major asset classes largely posted negative returns in 2018 – save for one, oft forgotten asset class – Cash. The S&P US T-Bill 0-3 Month Index posted returns of approximately 1.8% in 2018 (Source: Bloomberg), outpacing broad equity and bond indices. However, “Discounted Cash” far outpaced traditional T-bills in 2018 and is poised to do [...]