[FredZarguna]

If he were in the process of moving performing assets to cash, I would have no problem with his $1M checking account. But note that he doesn't say in the article exactly why he has $1M in checking. And, to be fair, I can't say $1M is a bad number, because I don't know what percentage of his total assets that number represents. I don't know many professors with net worth in the millions -- although I have been out of academia for a long time, and maybe Harvard Business professors are different. All I'll say is that if I had $1M in cash equivalents, it would be in a money market or some other cash equivalent with better than 0 yield.

[coloradan]

Do you recall that the money markets froze up in 2008, and can now “float” (i.e. lose money) and that, for 0.1% interest is a ridiculously low price to be paid to be exposed to that risk? Oh, and that nothing from 2008 regarding systemic issues in the financial system, was fixed then? But that instead the problems today are worse?