If you're investing with a 10-20 year horizon, is there really any harm in holding cash for 1-2 months during uncertain times?
The way I see it:
If markets stabilize, you reinvest and potentially miss out on 1-2% growth.
If things take a downturn, you have dry powder to buy back in at a lower price.
Given that long-term investors typically advocate for staying the course, is this kind of short-term defensive move really that bad? Curious to hear thoughts from those who have done something similar.