--- title: The dash to cash continues to make perfect sense ... why risk anything else? description: The dash to cash continues to make perfect sense ... why risk anything else? image: https://www.bluechipcommunication.com.au/hs-fs/file-3403283179-jpg/blog-files/bigstock-cash-is-king-with-gold-crown-b-65820253.jpg --- [![Bluechip_Logo](https://cdn2.hubspot.net/hubfs/325503/Bluechip%20Assets/Images/Bluechip_Logo.svg "Bluechip_Logo")](https://www.bluechipcommunication.com.au/) ![Search-9](https://www.bluechipcommunication.com.au/hubfs/BlueChip%20website/Bluechip%20Assets/Images/Search-9.svg "Search-9") ![Close Icon (3)-1](https://www.bluechipcommunication.com.au/hubfs/Bluechip%20Assets/Images/Close%20Icon%20(3)-1.svg "Close Icon (3)-1") This is a search field with an auto-suggest feature attached. - There are no suggestions because the search field is empty. ** ![Close Icon (3)](https://cdn2.hubspot.net/hubfs/325503/Bluechip%20Assets/Images/Close%20Icon%20(3).svg "Close Icon (3)") ##### Knowledge Shared # Insights ##### All Articles ![](https://www.bluechipcommunication.com.au/hubfs/BlueChip%20website/Bluechip%20Assets/Images/down-filled-triangular-arrow.png) - [Financial Services (168)](https://www.bluechipcommunication.com.au/blog/topic/financial-services) - [Public Relations (133)](https://www.bluechipcommunication.com.au/blog/topic/public-relations) - [Marketing (111)](https://www.bluechipcommunication.com.au/blog/topic/marketing) - [Social Media (101)](https://www.bluechipcommunication.com.au/blog/topic/social-media) - [Integrated Marketing (87)](https://www.bluechipcommunication.com.au/blog/topic/integrated-marketing) - [Reputation Management (79)](https://www.bluechipcommunication.com.au/blog/topic/reputation-management) - [Crisis Management (61)](https://www.bluechipcommunication.com.au/blog/topic/crisis-management) - [Growth (46)](https://www.bluechipcommunication.com.au/blog/topic/growth) - [Profile (41)](https://www.bluechipcommunication.com.au/blog/topic/profile) - [COVID-19 (40)](https://www.bluechipcommunication.com.au/blog/topic/covid-19) - [Protect (14)](https://www.bluechipcommunication.com.au/blog/topic/protect) - [BC Team (9)](https://www.bluechipcommunication.com.au/blog/topic/bc-team) - [Blog (7)](https://www.bluechipcommunication.com.au/blog/topic/blog) - [Leadership communication (6)](https://www.bluechipcommunication.com.au/blog/topic/leadership-communication) - [Cyber Security (3)](https://www.bluechipcommunication.com.au/blog/topic/cyber-security) - [Client In The News (2)](https://www.bluechipcommunication.com.au/blog/topic/client-in-the-news) [Client In The News](https://www.bluechipcommunication.com.au/blog/topic/client-in-the-news) ### [Melos Sulicich shares SME success tips on Money News’ “Let’s Talk Business”](https://www.bluechipcommunication.com.au/blog/melos-sulicich-shares-sme-success-tips-on-money-news-lets-talk-business) Melos Sulicich, CEO of Bank of Sydney was interviewed by 2GB’s Money News "Let's Talk Business" segment with Scott Haywood. He shared tips for family-run businesses to make sure ev... [Client In The News](https://www.bluechipcommunication.com.au/blog/topic/client-in-the-news) ### [Target hostile countries, not us, drug giant CSL tells Trump](https://www.bluechipcommunication.com.au/blog/target-hostile-countries-not-us-drug-giant-csl-tells-trump) This is an extract from an article written by Michael Smith and Jessica Gardner in The Australian Financial Review. Published on the 10th July 2025. “It is weighing on the share pr... - ##### [Financial Services](https://www.bluechipcommunication.com.au/blog/topic/financial-services) ## [The dash to cash continues to make perfect sense ... why risk anything else?](https://www.bluechipcommunication.com.au/blog/the-dash-to-cash-continues-to-make-perfect-sense-why-risk-anything-else/) ###### By Nicola Michel ###### 11 Dec 2012 [Social Media](https://www.bluechipcommunication.com.au/blog/topic/social-media) [Financial Services](https://www.bluechipcommunication.com.au/blog/topic/financial-services) [Growth](https://www.bluechipcommunication.com.au/blog/topic/growth) ##### [Reaching High Net Worth Individuals Through Social Media Marketing in 2025](https://www.bluechipcommunication.com.au/blog/how-target-high-net-worth-individuals-social-media) [Public Relations](https://www.bluechipcommunication.com.au/blog/topic/public-relations) [Reputation Management](https://www.bluechipcommunication.com.au/blog/topic/reputation-management) [Crisis Management](https://www.bluechipcommunication.com.au/blog/topic/crisis-management) ##### [The Science of Crisis Communication: Proactive and Reactive Strategies](https://www.bluechipcommunication.com.au/blog/proactive-and-reactive-crisis-communication-strategies) [Profile](https://www.bluechipcommunication.com.au/blog/topic/profile) ##### [Affluence. Effluence. Influence. Do you know the difference?](https://www.bluechipcommunication.com.au/blog/affluence-effluence-influence-do-you-know-the-difference/) [Public Relations](https://www.bluechipcommunication.com.au/blog/topic/public-relations) [Reputation Management](https://www.bluechipcommunication.com.au/blog/topic/reputation-management) [Crisis Management](https://www.bluechipcommunication.com.au/blog/topic/crisis-management) ##### [Introduction to Crisis Communication](https://www.bluechipcommunication.com.au/blog/introduction-to-crisis-communication) # Insights. [Back to all articles](https://www.bluechipcommunication.com.au/blog) - Share - [![](https://www.bluechipcommunication.com.au/hubfs/Bluechip%20Assets/Images/facebook.svg) ](https://www.facebook.com/sharer/sharer.php?u=https%3A%2F%2Fwww.bluechipcommunication.com.au%2Fblog%2Fthe-dash-to-cash-continues-to-make-perfect-sense-why-risk-anything-else%2F) - [![](https://www.bluechipcommunication.com.au/hubfs/Bluechip%20Assets/Images/linked%20in.svg) ](http://www.linkedin.com/shareArticle?mini=true&url=https://www.bluechipcommunication.com.au/blog/the-dash-to-cash-continues-to-make-perfect-sense-why-risk-anything-else/) - [![](https://www.bluechipcommunication.com.au/hubfs/Bluechip%20Assets/Images/twitter-1.svg) ](https://www.twitter.com/share?url=https%3A%2F%2Fwww.bluechipcommunication.com.au%2Fblog%2Fthe-dash-to-cash-continues-to-make-perfect-sense-why-risk-anything-else%2F) [![Cash is King with gold crown buying power of currency or paper m](https://www.bluechipcommunication.com.au/hs-fs/file-3403283179-jpg/blog-files/bigstock-cash-is-king-with-gold-crown-b-65820253.jpg?width=740&height=662&name=bigstock-cash-is-king-with-gold-crown-b-65820253.jpg)](https://www.bluechipcommunication.com.au/hs-fs/file-3403283179-jpg/blog-files/bigstock-cash-is-king-with-gold-crown-b-65820253.jpg) *BlueChip Communication recently held its inaugural ‘[Asset Wars](http://blog.bluechipcommunication.com.au/and-the-winner-is/)’ event, at which a panel of five financial services clients put the case for ‘their’ asset class before a group of media and industry peers, who voted for the ‘winner’ via the audience-fired ‘clapometer’. Here we give you a summary of the case for cash.* Greg McAweeney, from RaboDirect took to the stage in high spirits, but some trepidation, acknowledging immediately that the current anaemic cash rate of 3% was unlikely to do his work for him. He played his trump card early, catering to everyone’s love of cash by offering a bribe, in the form of a lucky envelope full of cash, concealed under each seat. When the audience’s shocked faces alerted Mr McAweeney to the fact that they were seeking substance not stunts, he swung into action, going on the attack immediately by declaring ‘cash is king’, and why wouldn’t it be, when so much super has been decimated by allocations to other, riskier asset classes. He backed up his case for cash by appealing to the audience’s perceived altruism, or maybe it was more their self-interest, by arguing that an allocation to cash not only gives a risk-free return but also benefits the economy at large, increasing savings, reducing the banks’ reliance on wholesale funding, and cutting the cost of capital for everyone. He then moved into the cold hard facts, pointing out that actual returns from SMSFs with a large portion of their funds in cash had already outstripped those with ‘riskier’ assets, so really, why invest in the riskier assets at all? Mr McAweeney then returned to his trademark humour, pointing out that transparency is one of RaboDirect’s core values, and as such he would like to share with the group that recent returns from managed funds have perhaps been less than spectacular. Returns from cash alone have in fact been stronger – in average terms. He went on to say that, despite the anticipation of a prolonged period of economic uncertainty, we were unlikely, unfortunately, to see the death of equities as an asset class. He acknowledged that economic cycles come and go, and that equities were very much tied to these, but said that investors facing retirement with decimated super were unlikely to care too much about cycles. The fact that that the current low return environment might be a ‘blip’ in the longer term history of investment returns gives pretty cold comfort in retirement. He then gave an explanation of the current global economic malaise, saying that we are all now experiencing a monster hangover following a debt binge and poor investment decisions. Quantitative easing isn’t working. Austerity isn’t working. All things considered, it’s just not looking that good. “Equities are way too risky in the current environment, but a term deposit can give you up to 6%, pretty well risk-free,” he said. Mr McAweeney concluded by acknowledging that time honoured tenet of investment, that equities will likely return more over the longer term than cash. But, he said, “we all know that it is time in the market rather than timing that matters, and who can you really trust to pick stocks for you. And how much time do you have? “Why on earth would you risk being at the bottom of the cycle when you need to access your money for retirement? “If you are looking for solid risk-free returns, cash is still king,” he said. ***Greg McAweeney**** is **Executive Manager of RaboBank International Direct Banking here in Australia and New Zealand – more popularly known as RaboDirect. In recent years RaboDirect has made a significant name for itself in the cash space: providing high interest savings accounts and term deposits to Australian investors.* [![New call-to-action](https://hubspot-no-cache-ap1-prod.s3.amazonaws.com/cta/default/537730/431002e3-250a-4808-8e24-851fccc589ac.png)](https://hubspot-cta-redirect-ap1-prod.s3.amazonaws.com/cta/redirect/537730/431002e3-250a-4808-8e24-851fccc589ac) [![how to drive your fame agenda](https://hubspot-no-cache-ap1-prod.s3.amazonaws.com/cta/default/537730/353fa2e0-53b3-407b-b7b3-d03aa771c86d.png)](https://hubspot-cta-redirect-ap1-prod.s3.amazonaws.com/cta/redirect/537730/353fa2e0-53b3-407b-b7b3-d03aa771c86d) ## Related Posts [Reputation Management](https://www.bluechipcommunication.com.au/blog/topic/reputation-management) [Financial Services](https://www.bluechipcommunication.com.au/blog/topic/financial-services) [Crisis Management](https://www.bluechipcommunication.com.au/blog/topic/crisis-management) [Protect](https://www.bluechipcommunication.com.au/blog/topic/protect) [Cyber Security](https://www.bluechipcommunication.com.au/blog/topic/cyber-security) [Leadership communication](https://www.bluechipcommunication.com.au/blog/topic/leadership-communication) ###### 03 July 2025 #### [Your Q2 Risk Radar: Crisis signals from ASIC, APRA and the Australian media](https://www.bluechipcommunication.com.au/blog/the-risk-radar-q2-2025) [Financial Services](https://www.bluechipcommunication.com.au/blog/topic/financial-services) [Profile](https://www.bluechipcommunication.com.au/blog/topic/profile) [Leadership communication](https://www.bluechipcommunication.com.au/blog/topic/leadership-communication) ###### 18 February 2025 #### [What the RBA’s rate cut means for financial services leaders: Your chance to shape the conversation](https://www.bluechipcommunication.com.au/blog/the-rbas-rate-cut-financial-services-leaders) [Reputation Management](https://www.bluechipcommunication.com.au/blog/topic/reputation-management) [Financial Services](https://www.bluechipcommunication.com.au/blog/topic/financial-services) [Crisis Management](https://www.bluechipcommunication.com.au/blog/topic/crisis-management) [Protect](https://www.bluechipcommunication.com.au/blog/topic/protect) [Leadership communication](https://www.bluechipcommunication.com.au/blog/topic/leadership-communication) ###### 06 February 2025 #### [Addressing Geopolitical Risks In Your Corporate Communications: The 2025 Guide](https://www.bluechipcommunication.com.au/blog/geopolitical-risks-in-pr-and-corporate-communications) [Social Media](https://www.bluechipcommunication.com.au/blog/topic/social-media) [Financial Services](https://www.bluechipcommunication.com.au/blog/topic/financial-services) [Growth](https://www.bluechipcommunication.com.au/blog/topic/growth) ###### 07 August 2024 #### [Democrat or Demobrat? 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