That jives with my thinking. During covid stock market crash I sold my bond mutual funds and switched to stock index funds. It was a no-brainer. Stocks were down much more than bonds.
The recent 20% drop in SPX was another such opportunity. But personally I did not do the switch this time because stocks are still more overvalued than at peak in 1929 before the crash.
Stocks are still more overvalued
Agree they are a long term deal for the win.
Exceptions do happen sometimes.