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So do want to go with 100% cash? If so and the market continues its slide, you'll feel great. If however, credit markets get their confidence back, regulations get back into investment banking and markets start to grow, you'll likely feel like you've been left at the train station.

Now why would I feel that I have missed the train? I have a collection of very specific conditions that will tell me when to get into the market, and in addition another collection of conditions for making trades. It is all about timing and selection.

Asset allocation is totally bogus, and the fact that it is in fashion means nothing if you want to make money. Most financial advice given is just terrible, and asset allocation is a part of that.

The same things could have been said about my situation in 2001 and 2002, but I did not miss the train in 2003. It sure was nice to be out in 2002, however.
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