Cloth simulation moves mesh away I cannot find any information on this issue, but it's simple. I have a mesh, I add a Cloth simulation modifier to it, and it moves the mesh below the grid.

Why is it doing this annoying behaviour? The transforms are applied and mesh has no tris, no double vertices, nothing!

Why is it doing this?
If the timeline isn't on Frame 1, the simulation will move the mesh to where it would be after that many frames.

Move the frame selector back to the first frame and it will work as you expect.