The trick to investing after you have diversified is making sure you still have ammunition to buy it when it's cheap. If your 50% in cash, and rotate another 10% in every time the market dips 5-10% that works. If your in defense and rotate that also works.
The average investor does best when he's not predicting the market so don't predict it unless that's what you do. For an investor trying to play trader with a large portfolio is a recipe for doom. You just need a simple plan like I listed above that will leave you feeling greedy when it drops and happy when it rises, able to enjoy a range bound market as much as a bull market.
It's my personal belief that this thing is going to look range bound in hind sight over the next 7 years and rotation is the only way to keep your portfolio rising.
If you "invested" in SPX you'd be in the same spot as 13 years go. and that's only because the make-up has changed, most of the high fliers back then never recovered or went belly-up.
The only remaining DOW component is Western Union. The Nasdaq, S&P, and Russel are continuously changing their weighting. Today's high fliers will be tomorrows losers and there's no-way to determine winners from losers, so IMO, trading is the only game left. The difference between the market and a casino is... in poker one only needs to ante-up to play , in the markets one has to pay to play but also pay to leave.
I only see bullish comments from him that as usual have come after the fact. Good contrarian indicator actually. Wait for the response to earnings next few weeks before putting too much money to work imo.
I have similiar interest but stocks like PM, PG, JNJ etc seem are near record highs and PE are high as well. Looking at buying a synthetic long call at about a 70 delta out in July or so with a small put hedge. Gets me in the game and lower cost of capital then stock. My sense is we will go down one more time as Washington battles with spending so I am waiting for a pull back, but who know. Good luck.