So JLC says that you should be able to ride out recessions without having to sell stock. But you are also more likely to lose a job during a recession. So to be able to ride out a recession without selling stock would mean your emergency fund should cover expenses for 2-3 years on average. That's a lot of cash which contradicts his mostly stocks when young strategy. What am I missing here? Does he assume the case of having a job through the recession to cover normal expenses.