Being of a rather introspective sort, it has come to my attention over the years that I do a much better job of advising others on what to do with their money than I do mine.
Takes Wave Systems ... some time ago, during the bantering of the doughnut hole, I was asked about whether it was prudent to hold ... I advised that (just prior to and reiterated with the advent of the ATM) that while one could possibly miss out on something (always possible with anything, even lottery tickets) but that unless one thought of the investment as a lottery ticket (most likely a loss) it was prudent to step aside and monitor events. They did (good for them), I didn't. To my advantage I did trade a couple of spikes and pare down my exposure, but in the end I was wiser for them than myself.
It seems when handling other peoples money (or advising) folks tend to get responsible.
Curiously, I treat my retirement money like it is somebody else's money. I make few bad mistakes, I churn out reliable double digit performance year in and year out. About the time IWM got to the low/mid-90s and SPY got in the low/mid 150's I went very defensive ... sure, I'll miss a few percentage points, maybe even more, but the fact is, I had already made all the money I expect for this year AND next.
Fact is I went largely significantly cash with my own money as well. But I had been staring at a few speculative equities for some time (bio stuff in no particular order, GEVO, NVAX, SYZM, CYCC, HBIO, AMRS, and fat cats BIIB, AMGN ... the list goes on some). I decided to speculate, and plan to continue. All while thinking the broader market is going to have a rough summer, and it is very tough to fight the broader market.
Generally when I do this, the broader market heads south rather promptly, I think that while the wiser side is pretty good, the more emotional side is a classic bag-holder.
Odd.
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