The indices may be inflated but in this environment, treasury bonds guarantee losses (because of explicit inflationary policy. Just look at the real rate of ret

The indices may be inflated but in this environment, treasury bonds guarantee losses (because of explicit inflationary policy. Just look at the real rate of return.) Besides, a 60/40 allocation has not made sense since the early 80s. Morgan Stanley e.g. advised a 60/20/20 with gold: https://www.reuters.com/markets/wealth/morgan-stanley-cio-favors-602020-portfolio-strategy-with-gold-inflation-hedge-2025-09-16/ https://www.reuters.com/markets/wealth/morgan-stanley-cio-fa... > I'm not really an investor btw, this is just my intuition Don't give advice when you don't know the subject. For a start, there are more than 2 assets. For some, certain corporate bonds look nice right now. Although indices are overpriced and carry risk due to the bubble, much of the wider market is extremely cheap. Developed and undeveloped foreign markets have also been outperforming the US. And commodities...