"For retail investors, there's a real cost to having your money on the sidelines," Sandler said. "Corporations are just saying: 'I can't sit on this cash anymore.' Money sitting around doing nothing subtracts return on equity."
Postrecession, it's no longer acceptable for a corporation to have more than 10% of its value tied up in cash, Sandler said. This much was evidenced by the suit brought against Apple Inc. ( AAPL ) by activist investor David Einhorn.