Interesting reading, thanks mars In terms of starting the...

Interesting reading, thanks mars

In terms of starting the process of reducing some of my exposure to equities - I feel if I make a start now and slowly think about which stocks to reduce and by what amount, I will be less prone to panic selling when the eventual contraction arrives and have the spare capacity to act.

Yes if I gradually increase my cash levels to 30% over say the next 2 years, I will miss out on 30% of the euphoric last stage of the bull market. But i would prefer to be prepared mentally than to let the euphoria cloud my decisions at the time.

Interesting times ahead.