If you started in 2003, then it was the beginning of an big uptrend and I can see how that would've resulted in too many sell outs.
Oh yes, but I did end 2003 with a total portfolio growth in value (cash and equities) of +77% for that year and I didn't really start until May. Still it did validate the approach for me and I've stuck with it through good times and bad.
The only further tweak I've been considering is including some type of Stop Loss mechanism. We've had quite a few discussions on that over the last few years but since I still have a full time job, a long commute and a few other intervening circumstances, the time to do that has been fleeting. Of course I think about it all the time during that commute.
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