Here is what I own. It's simple.

90% passive 10% some active stock picking.

Even then it's very classical stocks (although is icahn a classic? too early to tell).

Why 18% cash? Because it's a free option and I got kids. It's essential to me to not have to sell these positions. I am only human so I don't know if I could really survive long periods of volatility or a sort of Japan situation - flat market for decades.

Having that cash helps to deal with the pain when life eventually kicks you in the nuts.