[adabyron]

I think a tricky thing is names like WMT, COST, TJX already have high p/e ratios.

You could usually try utilities or energy but those are also high due to AI buildout & Iran.

I think gold could make a come back since it's beating down a bit this year. Treasuries or just a reasonable hedge with puts against your holdings may be the best bet.

Of course none of this is financial advice & is just open discussion looking for thoughts.

[airstrike]

Yeah, that all makes sense, great points. I agree utilities and energy are already high. As usual, the answer is probably that diversifying a bit to get exposure to all of the above is likely the right move, but that depends on one's appetite for risk and personal views on when the downdraft risk materializes