“ ‘There’s good reason the market is going up... but I still think we have a leg down, so I’ve gone to cash.’ ”

That’s outspoken billionaire Mark Cuban giving some insight on “The Pomp Podcast” this week into how he’s approaching the sketchy investing climate.

The Dallas Mavericks owner explained that, before his move into the relative safety net of cash, he lost a ‘s**tload of money” in his entertainment business. Fortunately for Cuban, his core holdings, Amazon AMZN, -1.78% and Netflix NFLX, -0.05% , helped to balance out those losses, he said.