We are overly cautious.
When a stock goes down we are happy so we don't have any problems with this. However, instead of deploying 40% of our capital we may only deploy 20%.
This is very apparent on the blog in my sig; in many years we hold too much cash. However, even with the anchor of too-much-cash we have managed to do quite well, but we could have done better.
We tried to buck this trend during the past downturn, deploying a more significant amount of capital.
When a stock goes down we are happy so we don't have any problems with this. However, instead of deploying 40% of our capital we may only deploy 20%.
This is very apparent on the blog in my sig; in many years we hold too much cash. However, even with the anchor of too-much-cash we have managed to do quite well, but we could have done better.
We tried to buck this trend during the past downturn, deploying a more significant amount of capital.