Cut-throat starts more threads and bravely invests in index funds even at nose bleed valuations.
Just to set the record straight. I have reduced my Stock Holdings from 80% in in 2003 to about 55% in 2005. - I am not investing any new 'New' money in stocks for the last year and a half. I am not selling any however. I maintain my 55% Stocks 45% Bonds portfolio. My stocks were all mostly purchased in the Cheap times of the 1980's.
If I were a market timer (which I am not), I would sell all of my stock holdings (this to me is a bullish signal, as I am usually wrong).
All I aim to do is maintain my stock/bond holding. When I hit age 60 in about 6 years. I will back down to 50% Stocks and 50% Bonds. I am on the 110-Age for stock allocation program.
So, I am not Buying Stocks, I am just maintaining my portfoilo postion. The same may be said of Warren Buffet who is also not Selling in major quantities. He's just not buying - He's just holding.