Sam Liddle: What will clients thank you for in five years?

Whether it's shifting interest rates, soaring inflation, or heightened geopolitical tension, there's a lot of short-term risk and uncertainty on the table right now. And the reality is, investors are quite right to be cautious - a look at the volatile performance of any major index since the beginning of this year alone can show you that. With all this in mind, it's hardly surprising that in May, Bank of America reported the average cash holding of a global asset allocator to be at its highest level since 9/11. But should this really be the case? A major part of any investment p...