I’ve added Podcast #95 to the “RobCasts” section of the site. It’s called Risk Tolerance in the Real World.
Trying to psychoanalyze yourself is a waste of time. Don’t look inward to determine how much risk you can afford to take on, look outward. The reality is that stocks are far more risky at times of insane prices. Cutting back on stocks at such times allows you to avoid the worst that the market can dish out while earning far higher returns (compounding applies to the money you save by not being overinvested in stocks during a price crash).