Subject: Re: OT 90/10 portfolio (Barron’s)
“Is down 40% so much better than down 50% (psychologically)? Because 100% stock allocation down 50% is roughly the same as 80% stock allocation down 40%.”

Might want to check your arithmetic there.

But yes, very much better. 100% down 50%, bargains everywhere and zero cash to buy them with. 80% down 50%, still have a ton of cash available to buy. In 08 I scraped around for cash to buy. In 2020 I was able to load up on Berkshire at slightly over book value.

I don’t have a static allocation.