For Dickiej, in an IRA, he can sell out without the tax implications and buy in again later if he chooses. For taxable accounts I'd consider it a questionable strategy. Think a bear market is coming? So what? In any 10 year period in the history of the stock market, if you stayed invested through downturns you would end up outperforming those who cash out and buy back in later.
Obviously for someone that is only a few years away from needing cash from their investments it may be a different story, but cashing out completely is rarely, if ever, a good strategy in taxable accounts.
Just my 2 cents, not a pro, no insight beyond my own experience and lots of reading.
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