It looks like the ongoing global economic uncertainty is starting to hit home, as major American firms are starting to pile up cash instead of investing it. A September 24th report from FactSet Insight highlights that the S&P 500 (ex-Financials) cash and short-term investments in the second quarter totaled $1.43 trillion, the second highest level in a decade.
As FactSet research analyst Andrew Birstingl notes:”This amount reflected 5.5% growth on a year-over-year basis and 3.9% growth quarter-over-quarter. Seven out of nine sectors posted positive year-over-year growth, with the Consumer Discretionary (-0.8%) and Industrials (-0.9%) sectors being the only decliners.”
Breakdown of S&P 500 2Q 2015 cash balances
RV Capital 1H22 Letter to Co-Investors in Business Owner
