I understand exactly where you are coming from.  It does not matter what we do, a client can sue us and win for just about anything.  If I am going to get sued, it will be for doing what I feel is right for my clients, offering professional advice beyond “hang in there, we are one day closer to a bull market”, and having the stones to use my knowledge. 

Yeah, well I think that is the ultimate test. As long as your clients are happy. After all, they’re “clients”. He we choose, in an uncertain world to allocate moderately and hold. So I respect those who are more tactical. After all, even lessons learned at 9/11 were severely tested. For myself, I’ll be using more total market stuff on the fixed like the Vanguard Total Market Bond ETF (BND). This is my biggest learning, vs. active bond management in funds. Thanks for the discussion!