Investors throw in the towel on stocks
Here is an excellent article about how many investors have fled from owning stocks. I can't much blame anyone after the two devastating bear markets since the year 2000. However, holding bonds and preferred stocks will work in a shaky stock market or a topped out market. I hold BLV and TMF for bonds, and I own preferred stock funds like PFF and FFC. We need to be gaining something for our money each year even if it is only 4 or 5% because a mere 5% gain on $50,000 will become $103,946 in just 15 years.
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