I’d hardly call myself conservative, having invested 90-95% in equities for the past 30 years. Indeed, my investment returns in 2020 were over 30%.

However, while the 2020 bear market was somewhat severe (just over 30% loss at the lowest point), the recovery was the fastest ever, less than 2 months. How would your strategy fare if you had to deal with a 30-50% loss that kept going for 2–3 years (the average length of a bear market)?