Bar, Thanks. I think Buffett also hit the nail on the head when he said that successful investing has more to do with temperament than intellect. The emotional side seems to be the most challenging by far. My problem is I just hate watching nice profits evaporate. Buffett also said that Rule 1 is - don't lose money, and Rule 2 is - don't forget Rule 1. For nervous nellies like me, managing the emotional aspect is critical.
Fwiw, my approach is evolving into using the S+P 500 (SPY) exclusively for the stock allocation. If the allocation is to be say 25%, the strategy is to have say 15% as Core long term buy/hold, which isn't touched regardless of what the market does. The other 10% is 'Flex', and profits can be peeled off after they build up significantly when the market is clearly overbought. This approach minimizes having to watch nice profits evaporate, not totally, but is a good compromise.
Since 2020 I've been using a variation of this strategy and the results have been good, so I guess whatever works. The latest refinement to the system will be to use the S+P 500 exclusively, with individual stocks and sectors only followed for fun and general interest. For better or worse I have the 'collecting bug', and need to refrain from actually owning all these dozens of stocks, and instead just use the S+P 500.
But everyone is different, so finding the right personalized approach can take some trial and error. My dad didn't follow his investments at all, just owned quality blue chips and put it on autopilot I wish I could do that, but am just too fidgety I guess.
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