Subject: 100% Stocks
Ben Felix video from March this year:
'The Most Controversial Paper in Finance'
https://www.youtube.com/watch?...

The 2025 paper Beyond the Status Quo: A Critical Assessment of Lifecycle Investment Advice suggests that investors should hold globally diversified 100% stock portfolios for their entire lives. It has been met with intense criticism.

So I think Ben Felix has recommended to not actually be 100% stocks in retirement due to behavioral issues. Stocks plus some cash for living expenses. Suggested 3 years of cash. Yes, this is a "cash bucket", but it does help the retiree to hold on during a bear market.

Interesting (to me) - this is similar to Warren Buffett's advice to his trustee for his wife: 90% S&P500 index fund, 10% cash, with a 3-4% withdrawal (2.5 - 3 years expenses in cash).

Confirms my biases, so I'm happy.

Some of you will have your bias toward leverage confirmed :-)