Last week, we noted the US Equity markets have been outperforming the rest of the world by a huge margins (Spot the Outlier).
This may be contributing to circumstances where US investor allocations are overweight US equities, and underweight other asset classes.
In these circumstances, you might consider looking at Europe and Emerging markets, and (dare I say it) review your Bond Weightings. I keep seeing portfolios that are underweight Corporate Bonds (which may be needed) as well as High Yield (but only if you have the risk tolerance for it).
Thanks to their price appreciation, As a percentage of holdings, Equities are no longer
over Under-owned. However, as we saw in the 1990s, they are not excessively over-owned yet. This condition could go on for many years. . .