I have a weird take on AA....
Call me funny; but - let's say I have 1 billion in assets that is 100% stock.... heck, make it only 15 million... if the market corrects even 60-70% I am still left untouched (meaning my mustachian lifestyle, I can still withdraw everything I need to live). While that correction is in place, my goal/plan is to have 2-5 years of liquid cash (living expenses + a float for investing) to continue to buy during that down period...
so, in Buffet's case, 90% would be ok - right?
For me, anything above 2million in investments can sustain a 30% correction and still sustain 100% of my planned income... (it could reduce in value down to 1.4M and I can continue to live on: 36-54k per year.
Please excuse my ignorance, I am new at this.
Steve