It's not always a fully understood (or even believed) facet of investing, but "safe" stocks like consumer goods names and utilities companies aren't actually protection from a correction. Interest rates are pointlessly low, and with inflation seemingly on the verge of racing out of control, bonds are little more than a coin toss at this time anyway. The other idea at work here is the fact that guessing the market's next near-term reversal is just darn difficult to do ... so much so that most people don't do it very well.