Analyse de marché1. CASH POSITION ANALYSIS
Current Cash: $189B
% of Assets: 18% (vs 10% normal, 15.5% avg pré-crise)
Signal Strength: +16% above historical pre-crisis average
Historical Context:
├─ 2007 Pre-Crisis: $44B (15%) → 8 months to crisis, SPX -57%
├─ 2019 Q4 Pre-COVID: $128B (16%) → 4 months to crisis,…
