Naaaaw man!!! It's Cash on the sidelines for equity investments...and real estate! As in literally cash, money market accounts, savings accounts, and/or checking accounts with funds ready for buying stocks (real estate too). Also, dry powder can be any assets that can be liquidated quickly and with little effort...even if a financial penalty or value loss occurs.
And from a business perspective dry powder can be used to pay future obligations or to purchase assets at a favorable price.
