So I'm sitting on a lot of cash right now (~30% of my portfolio) and am looking at sectors to invest in. It looks like the S&P 500 is pretty expensive (NTM earnings yields are in the mid 4%'s, and the Schiller PE is ~30x), and we've had a long bull market that will likely be followed by a moderate recession sometime in the next few years. Growth stocks have really outperformed over the last 12 months, and fringe / speculative assets like Bitcoin are trading near all-time highs.
In this environment, where do people see pockets of value to put money to work with some downside protection? Most interested in industries / indexes rather than particular names, as I don't have time to really vet public stocks, etc. in sufficient depth to feel like I have an edge.
I'll start things off. Some assets that have crossed my mind are BDCs and gold.
Blanditiis eligendi ipsa ex quae perferendis omnis. Sapiente placeat unde rerum quas accusantium error odio tempore.
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