Marks: We're Investing, but With Unusual Caution

The transcript discusses the current market conditions, highlighting high asset prices and the cautious approach taken by sophisticated investors like Blackstone. It emphasizes the importance of recognizing risks in the market and the behavior of investors who act bullish despite not being overly confident. The conversation also covers the strategy of cautious investment and the challenges of managing client expectations, particularly regarding cash strategies and high yield bonds.

What does the speaker mean by 'handcuffed volunteers' in the context of investment?

What considerations does the speaker mention regarding going to cash in the current market?