I´d like to add something to clarify: I am 50% cash of net assets. It is very very tempting for me to now heavily buy stocks of really good companies that have fallen a lot (Lululemon and SAP). And to write many more BRK puts than I´be done yesterday to eventually buy Berkshire stock at effectively around $450.

But by doing so I´d reduce my cash mountain to a hill --- and I still hope for the unthinkable, see the chances for it increasing: To buy Berkshire at $400 or let´s rather say 1.1-1.2 x BV --- and similar for other favourites of mine. At such a point I would go "all in".

It might never come, but luckily that wouldn´t be a catastrophe for me if by "waiting forever" I would miss out on a market that continues to rise. Apart from my 1 year ago reduced but still huge Berkshire stock exposure I am practically out of the market since 2 years or so. So I missed out on a big market upward move (compensated for by successful BRK options trading, with not too much money exposed) --- but I feel good and safe this way.