No, they're better for holding* (and buying). So long as you won't need to cash out during the recession, it's the ideal time to hold and to buy. Conversely, a

No, they're better for holding* (and buying). So long as you won't need to cash out during the recession, it's the ideal time to hold and to buy. Conversely, a bull market is the ideal time to cash out. aka "Buy low, sell high." *Assuming they'll still exist after the recession. For example, I would be weary of equity in the subset of relatively young companies which DON'T have record lay-offs in the next two quarters. (Failing to preemptively trim more than just fat is a big red flag.)