I do not allocate assets in the way that I have read about asset allocation. My asset allocation method is very simple, yet convoluted
During bull markets I hoard cash and cash equivalents. At that point in time I am essentially 100% cash (this only happened at the start when I had nothing else).
During an asset decline my allocation moves from cash to the depressed asset. At this point in time our allocation would be some high percentage in the depressed asset and a smaller percentage in cash.
During the subsequent recovery I begin to hoard cash again. At that point in time our allocation would be in the (previously) depressed asset and cash.
This cycle continues ad nauseum so it becomes difficult to predict the asset allocation. I can say what it is at the moment, but I have no idea what it will be going forward. I do not try and maintain any percentage in any particular asset class. In otherwords, if things had turned out differently I could have been 90% in RE or 90% in stock (for example).
I also don't sell. I don't need more cash to allocate.
I had cash (from salary) in the mid-90s which was deployed into RE (needed somewhere to live and I saw another opportunity). At this point a high percentage was (obviously) in RE. Then as RE markets continued to rise and the stock market went on a tech bull run I saved my cash. The allocation became something like 50% RE.
As JDS Uniphase, Nortel and the rest of the tech sector boomed, I cherry picked out of favour (non tech) issues and put 20% in stocks, but still maintained a hefty 30% in cash.
In 2000-2002 the stock market tanked and gave me the opportunity to move the 30% of cash into stock. At that point it was probably 50% RE and 50% stock.
During the next bull run in 2002-2007 we had a lot of cash (salary, RE rental income, dividends). At that point our allocation became almost a third RE, stock and cash. Stocks tanked again in 2008-2009 so our cash is once again almost depleted and our allocation is now around 45% RE, 45% stock and 10% cash.
I never used the asset allocation strategies I've read because I can't see how so many different asset clases can be worth investing in. If I can't find any opportunities in equities, I don't want to put money into equities (at the time) just because the asset allocation methodology recommends it.
The only reason that I have been able to amass assets in such a short period of time is being fortunate enough of having 3 perfectly timed asset busts (RE in the 90s, stock in 2000-2002 and 2008-2009). Each asset bust gave me enough time (when the bulls were raging) to save up for the next bust.
Ironically, if I graduated from university in the middle of a boom (in every market) and experienced no downturns (in any market), I would not have done very well. Asset crashes are the rain, soil and fertilizer needed to grow the next batch of crops.
I am now hoarding cash (again) and hopefully fate will give me enough time to save enough cash to take advantage of the inevitable collapse of another asset class.
I know this sounds confusing, but there is a method to the madness
However, having said all that, a person should invest in a way that is in alignment with their personality and their comfort level.
PS: With regards to your posted allocation, I would only be involved with one or two low-fee index funds and I would have 0 investment in bond funds. Again, that's me.