This post was originally shared in my DT Email Newsletter here. “I only hold three to four ‘really good’ stocks. That’s it.” That’s what my long distance cousin said to me earlier this year, during Chinese New Year. We were talking about investing during retirement years. I believed what my cousin described to me is what many investors would do – “buy, hold and eventually draw down”.  Accumulating your stock portfolio and then sell down around 4% of your stock portfolio each year. This allows you not to run out of money during your retirement. Sounds logical. But here’s what I’ve observed Over the last 10-15 years, the stock market has rewarded one type of investor – growth. Buy tech, buy momentum. Buy what is going up. And it made sense because the investing conditions made this strategy work – near-zero interest rates and massive central bank liquidity across the world. That’s why buying an index fund or an ETF like the S&P 500 made sense....