I'm worse than he is, I'm still 10 percent margin and 10 percent home equity loan. But my big positions are all in oil/coal which is likely to hold a solid floor this winter. 8 small positions are in stocks with PE ranging 3-5 and I'm still 10-20 percent green in most of them, so I'm not too worried longer term.
But I agree, short term it would be easier to sleep on a mattress stuffed with cash, for sure.