Speaking from the post-FIRE perspective, I am also managing / looking at my cash pile, as part of my net worth. Whatever is happening now, the cash pile will cover quite a few months, and so things aren't "bad" until that starts to look low. I don't need to sell anything during the current market "weather," so I can still consider the long-term performance of my equities. This is a consideration vs. return optimization / 100% equities portfolio.
I'm still thinking I entered this downturn a little light on cash, because there is a lot I would like to buy, but am leaning more on the first thought above. I'm just at he point where I've settled into an ongoing level of cash, after having gotten a severance and had my home equity in cash b3fore the March 2020 swoon, and home and car purchase heading into the gangbusters 2020 recovery.
If your DH needs some homework to do to keep him busy, send him after some I bond purchases. At least they won't go down!