66 years old with good portfolio mostly in equities, largely mutual funds. Currently there is a discussion with two different points-of-view.
1. Since that's a large portfolio & there's a lot at risk, it should be protected from a setback & a portion should be moved to safer investments.
2. Since that's a large portfolio, investor can afford a 50% decline, so the potential rewards outweigh the risk.
Anyone with an opinion on this ?