Gary Yeowell/DigitalVision via Getty ImagesSince the rise in interest rates in 2022, a key factor has shifted in financial markets: cash is now worth something. Cash is a competitive asset, offering over 5% risk-free when many riskier bonds and dividend stocks hardly pay more. Before 2022, ultra-low rates encouraged companies to burn through cash, take on debt, and incentivize higher-growth investments. Companies and investors could afford to focus on long-term profits without much emphasis on balance s ...