I am just glad my pension fund is now a very globally diversified portfolio, and as the equities P/E has risen the balancing of it has put more into fixed instruments - very high quality corporate bonds, NOT in or related to financial companies. It is still primarily equities but the bond side has been growing. At least if the U.S. segment sees a major decline, we are hedged to avoid a total calamity - with more diversity and more bonds.
That’s similar to my positions: broad diversification in asset classes; diversification in vertical markets / industries; global vs domestic; emerging vs mature markets; equity vs fixed instruments. About 2/3 equities now.