I was almost 100% equities for over 3 decades (liquid investments, not RE holdings, etc.)...left some bucks in the forrest when I moved to preserving what I have mode over the past couple of years...oh deer
Matters not to me at this point....
We've all seen the huge drops...25%, tech bust, 40-50%, sometimes overnight. I don't need the gains, just don't want another drop....YMMV.
Never second guess locking in gains (profits)...jmho.
If I was 25....I'd be in 100%....but I'm not