&gt;<i>There&#x27;s something to be said for having cash available - here and there, opportunities pop up for me that I can take advantage of.</i><p>But, by definition, every time you take advantage of an opportunity, you sacrifice cash on hand.  You can&#x27;t always have cash on hand and always be able to take advantage of opportunities, unless you have infinite money.  They are opposing forces; your money is either &quot;in cash&quot; or &quot;in opportunities&quot;.<p>It reminds me of arguments to have &quot;dry powder&quot; to buy equities when there is a market correction.  But that means you&#x27;re sacrificing current returns for potential future returns, and unless you can anticipate the future market results, the results of the strategy are ambiguous.