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Agree with pretty much everything. If you fix a proportion in which to hold cash and rebalance when the allocation drifts, you will have a mechanism that increases cash at the times of market euphoria and deploys cash when the market bleeds.

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In order to finish first you must first finish… I think of stock market (in a way) as a video game on hard mode but unlike video game when “you die and respawn” in stock market when you blow up a lot of times you are done and there is no due overs and so I try to remember that and never go for all or nothing… a bit of cash helps to “wait for opportunity “ and it’s okay (either way) if it comes tomorrow or next year :)

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