Portfolio Mgmt, Goals, etc. – No hurry here – get to this if/when you can.

Hey Pat- I'm transitioning to investor/trader and wanted your thoughts on a few things. Appreciate your perspective here and realize many of these are questions of degree. 1 - I have a few big positions I've bought and held for years - Berkshire B ($60 Basis) and Apple ($25 Basis) that both anchor (good) and slow (bad) my portfolio depending on the time. Do you apportion a piece of your portfolio to "non-trading" products? Or do you recommend everything in an all-in play approach? 2 - in order to remain nimble, have cash for opportunities and make hay when the going is good, do you have pct. guidelines for cash vs. active $ in different market situations to maximize overall results? Relatedly, assuming 6-8 max positions do you begin with a set figure in mind for what is a big position, a medium position and a small position - and work around your portfolio as the $ in play number changes? 3 -  I outperformed the S&P by 5-15% (of return, not total) over the last few years with a somewhat haphazard approach - undisciplined, big winners, big losers. I hope to improve with better discipline, rules and practice.  How do you go about setting goals - versus S&P, versus year ago, etc? What % range would you say we reasonably shoot for? Thanks very much, Dean C.