I'm in an even more extreme position. For which I claim no credit (but will cheerfully accept some chastisement.
) Last November I transferred most of my personal pension funds out into a drawdown SIPP, but I was a bit busy with work at the time and couldn't see much value that I really wanted to go for. (Although I earmarked a few funds, including a couple of Asians.) And then Christmas approached, and I still couldn't get rid of the idea that a correction was overdue, and possibly a big one. I should have bought a few trackers, but didn't.
So (deep breath, you guessed it...) The SIPP is still overwhelmingly in cash. More than 90%.
Yes, I've been a very lucky idiot, but suddenly the world is my lobster. Time to dust down my autumn shortlist and see how it's doing, because I reckon this drop is going to bottom fairly quickly. There's too much cash sitting on the equity markets' sidelines for this spell to last very long. Fingers on buzzers, teams.
Do I believe in market timing? That's another question (answer yes, but hardly anybody has what it takes to do it well, so no, not really). But looking the Shiller CAPE in the eye and deciding that this wasn't a good moment to take the plunge seemed like simple common sense. Well, it did to me anyway.
The only thing I can claim in mitigation is that this particular SIPP is only a smallish portion of my personal assets, so maybe I wasn't quite as irresponsible as I might have seemed. But even so, it's up to me to make the most of this freakish opportunity now. Best of luck to all.
BJ