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Chris WorthingtonChris Worthington

, Editor-in-Chief of Income

Focus on Free Cash Flow, Not Total Cash

S&P 500 companies are absolutely flush with cash right now. Total cash has reached an all-time high, with non-financial firms holding an astounding $1.4 trillion, or 12% of assets. For some permabulls, this is a clear sign to invest in the market. After all, current cash levels are much higher than at past market peaks,...