Portfolio strategies

Like most investment advisers and managers I have been consistently bullish in peddling my strategy. Like some, I also have a good track record. However, like many, I now sound like a broken record. So how should stale bulls react and how should clients react to them, as bear markets breed so many of us? As it happens, this particular stale bull is a believer in unbalanced top-down portfolio management whose default position is to be fully invested in some kind of equities somewhere in the world - but not everywhere. Only in the 1972-74 bear market did I go 100% liquid, and that was wor...