Using a soil, such as the one you described above, would be extremely water retentive, I will explain what happens when you water such a soil: The first is, you water, and a part of the soil near the bottom of the container does not drain. This water has a name, it is called 'perched water', so named because it 'perches' (like a bird) in the soil above the pot bottom. This excess water is critically important because it very quickly begins to kill roots growing near the bottom of the pot - within hours. The first roots to die are the roots that do the lion's share of the work - the very fine roots often referred to as 'hair roots'. The longer the soil remains saturated, the larger the diameter of the roots killed. When air finally returns to this once saturated soil, roots can only then begin to regenerate. This takes energy and is extremely expensive for the tree in terms of energy outlay. During the cyclic death and regeneration of roots associated with excessively water-retentive soils, the tree is actually forced by chemical messengers that tell it to 'grow roots', to direct energy that would have otherwise gone into growing more leaves, branches, or just increasing it's overall mass, to replacing the lost roots.You know how I hate to be picky, but not only do I not observe the above formula for soil, I do the opposite. I never allow any mineral components larger than a grain of sand. 50% by volume of the mix is composted pine bark, most of which are fines. It is a moisture retaining mix that suits me and my watering habits and my local rain & humidity patterns. Everybody needs to customize their soil to their situation. Flat statements belong in the Flat Earth Society, not for bonsai people in too many different climates to count and with too many personal habits, and agendas to list.
I have for the last several years noticed that there are wet belts and dry belts and everything inbetween across the US and I suspect everywhere else in the world, so my advice is necessarily more pertinent to places like southeast Michigan which is different from northern Michigan an southern Ohio, etc. There is a really wet belt across the deep south states that I see big storms pass over very often. That is very different weather from mine. Since I can't possibly know about the rest of the world, everyone needs to take what I say, and what everyone else says, with that proverbial grain of salt. Flat statements tend to flat wrong.
The second thing that might happen when you water if you are using a water retentive soil is, you adopt the practice of watering in 'small sips' so the soil remains damp instead of wet; this, to guard against root rot. It makes sense to only give the plant a little water at a time so the soil never gets soggy - right? That might be a workable option if you have the luxury of using water that has been processed through a reverse osmosis water filtering system, or if you are watering with distilled water, but regular tap water has things dissolved in it, like magnesium, calcium, iron, sulfur, and others. If you water in 'sips', these dissolved solids remain in the soil and build up over time. This has an impact on the plant's ability to absorb water and the nutrients dissolved in water. To illustrate the potential impact these dissolved solids have on a plant, picture in your mind what curing salt does to ham or bacon. It literally pulls water from the cells & dries out the meat. Any solutes (anything dissolved) in the solution surrounding the roots of trees can have the same potential effect on the trees cells. It can make it difficult for trees to absorb water and nutrients, it can make it impossible, and in some cases can actually reverse the flow of water so it moves OUT of cells, effectively collapsing and killing them. We commonly call this 'fertilizer burn', but it does not necessarily have to result from an over-application of fertilizer. The factor that determines how water retentive and difficult a soil is to grow in, is the size of the particles it is made from. The smaller the particles - the greater the water retention and the greater the degree of difficulty for growers. Soils made of any combination of peat, coir, compost, sand, topsoil, and other fine particulates are going to be very water retentive, which we know is undesirable from the perspective of the tree, and they cannot be suitably amended to correct drainage or the height of the perched water by adding other drainage material (ie sand, perlite, granite etc. Adding these to soils made up of fine particles reduces the overall water retention of the soil, the reduction usually being a plus, but it does nothing measurable for drainage (flow-through rates) or the height of the perched water table, the later being the critical consideration when it comes to a healthy root zone.
It was not my intention for the OP to copy the mix I use verbatim, but to give him an idea of what each of those components contribute. You can absolutely customize the this mix (I believe I said that), however instead of the water being retained via fine particles forcing water to perch and remain saturated for long periods of time thereby compromising normal root health and function ,it is being held by the turface and barks micropores internally , allowing you to water as much you want without fear of roots being deprived of air.
Sure, " Flat Earth statements tend to flat wrong" however statements made with a rational approach and then thoroughly explained using logic and scientific evidence are, at the very least, worthy of consideration.