Buffett's golden rule for Berkshire: Always sit on $20B+ cash minimum. Why? So one black swan event can't nuke the entire operation.
Liquidity isn't just for buying dips — it's survival insurance first, alpha second.
Most degens learn this the hard way during liquidation cascades. Cash on the sidelines = optionality when everyone else is forced to sell.
Protect capital. Then hunt.
Liquidity isn't just for buying dips — it's survival insurance first, alpha second.
Most degens learn this the hard way during liquidation cascades. Cash on the sidelines = optionality when everyone else is forced to sell.
Protect capital. Then hunt.