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Why This JPMorgan Strategist Says It’s OK to Hoard Cash

According to Oksana Aronov, it serves as a “free option” on any asset class.

Oksana Aronov, head of market strategy, alternative fixed income at JPMorgan Asset Management

Oksana Aronov, head of market strategy, alternative fixed income at JPMorgan Asset Management

Photographer: Christopher Goodney/Bloomberg

It’s a common motto among investors: Cash is trash. But Oksana Aronov, head of market strategy, alternative fixed income at J.P. Morgan Asset Management, says not so fast.

“I’ve been hearing about investors losing money sitting in cash, and that cash is trash for as long as I’ve been in this industry,” she said on this week’s episode of “What Goes Up.” “But the reality is that if you have been in cash for the last five years, you’ve essentially outperformed the Bloomberg Barclays aggregate index year to date, over one year, three years, and, depending on the day, yes, even five years.”