This is a function of own investment/trading process, i.e. skills. As long as a person keep practising and learning from mistakes, starting with small account sizes, it is doable.My point was that unless you are able to consistently time the exits and entries consistently over a span of 30-40 years you will not outperform the market, drawndowns are pretty much irrelevant unless you are retired or near retirement (due to sequence risk).
Post GFC 2008/2009 rally, there was a big retracement in STI ETF in 2015 (US shale oil oversupply?), up to -27%. I cashed out of Singapore stocks in CPF-IS to CPF-OA cash earlier in Nov 2014.
Now central banks response being faster, the cycle from up to down should be shorter. Just a small caution here.
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