At least that what they advised everyone else should do

I have it in some things that return about 4% a year. So I'm ahead of many who stayed in the market.

Plus, I predict there will be another CV wave and another plunge. I'll get back in then.

I know we have terrible UE, but literally 78% of the consumer economy & all of the other 22% has been in full operation.
The virus triggered a correction, and long term holders took their 8 year yields, so it overcorrected.
It's inching it's way back toward where it should have been.
There was never an overall microeconomic rationale for a Dow at >29k.
24-26,000 would have been more in line.
All that said, I think there is some casino thinking going on and the Dow, S&P, and Russell seem overvalued by 5 - 7%.
A renewal of the CV concerns due to carelessness and the gatherings all over the country will trigger another correction. I hope I'm wrong and we don't have a wave of deaths, but if it does, we'll be posting about all the red numbers.

I know that some here sold everything after Trump was elected, which means they've missed out on a significant amount of gains.

The other thing people don't understand is that the markets tend to make their big moves in only a handful of days, so unless you can get a newspaper from the future, you'll miss out.

And if I move all my money to cash, it will steadily lose value. Thank you for your well-intended advice, but I cannot afford to liquidate everything.