It depends on timing. Suppose the market were to crash 8% on Monday, then another 9% on Tuesday, then another 5% through the end of the week for a total peak to

It depends on timing. Suppose the market were to crash 8% on Monday, then another 9% on Tuesday, then another 5% through the end of the week for a total peak to trough drop of 20%. That’s a big correction in historical terms, but it only sets the market back to summer of 2017. We could easily have been having this conversation in the summer of 2017. That said, if you have decent conviction you probably want cash and close case substitutes (e.g. short term high quality debt) so you can take advantage of any big drop as a buying opportunity.