Schwab Strategist: Cash Could Be King

With the markets trying to rebound, Schwab's Chief Strategist, Liz Ann Sonders, says that the rally could be a "sucker's rally." She thinks there could be some pain for investors between now and another negative correction. So it may be worthwhile to hoard cash. Private equity firms seem to be holding too much cash though, and yet they have been going on a spending rampage, according to Marketwatch.