... my point was, I doubt ANY senior in the big audience was happy looking at their statement and he answered that he expected it to be a sharp V. I wouldn’t pay him to take that kind of downside risk especially in retirement. ANY 8% loss is historically more than market noise and time to have a sell strategy to preserve capital! ....ymmv
Ah yes, that’s a risk-level setting problem. Everyone is different on that one.
If people could actually predict this stuff with accuracy, there would be no market. Everything would be priced at its proper value all the time and prices wouldn’t move enough to matter.