Hold cash or invest?

[Bruce C.]

I'm still new to BP and would love to hear from some investors on this topic. I'm curious where others stand on holding cash now or investing, particularly in California and Sacramento, where I live. The financial markets seem pretty uncertain, the Fed can't make up its mind about when to raise rates, and some real estate markets (e.g. San Francisco) have been cooling over the past year. 

I know it's a general question and all markets are different and may be at different stages of a cycle. Does anyone have thoughts about holding cash or investing at this time.  Of course, a good deal can appear in any part of the cycle. That's a given. I'm wondering if folks are leaning one way or the other in general. 

Are people holding cash or investing right now?