Calm down Ben.
No Ben. Its not 99.5% cash. Maybe 5-20%, rest in bonds and fixed income investments, which have also been taking it on the chin with higher interest rates. Put your money into a 65/35 equity/fixed income or 80/20 if you have some balls. Then forget about it for 20 years. This timing thing is not smart investing. What you're in is for completely risk averse types, and someone nearing retirement, and even then I wouldn't recommend it.