"Be greedy when others are fearful"

I'm not advising anybody what to do, but the argument is that you'll be able to find good investments for a heavily discounted price if there's some real economic panic and everything crashes for a while.

The inflation loss you take from holding cash for a bit might be more than offset if/when the economy recovers and you've got something at a steep discount.

Not going to claim I have any great knowledge on this at all, but I stuck a chunk of cash into a moderately low risk ETF 6 month ago. It's gone down relative to the cash that is still in the account.

There are different types of inflation. When inflation is due to ongoing currency debasement you might see all things rising in price (goods and asset prices). This is not what’s going now. We are in a tightening cycle. Cash is appreciating in value relative to speculative assets

They don't.

They said buy a business, and/or stocks at the right time.

i can weather a little inflation if it means i have a pile of cash to buy with both hands at the right time.