I believe equal weighting should work just fine regardless of portfolio size. Certainly every approach goes in and out of style, and there are always new entrants to investing that experiment (and many that simply pick a reasonable allocation and leave it alone.) I use what you might call a variant of this approach, with equal weighted risk classes, plus a base of intermediate gov't bonds. Over the past 40 years, this strategy has beaten the S&P by a significant margin, and has been slightly less volatile than a US 60/40 portfolio (and far less volatile than the S&P). Best of both worlds. Performance may be worse going forward, as 'smart beta' approaches may eat into some of this extra return, but it seems very likely to generate at least average returns at below average volatility going forward.