paywall, but the first couple of paragraphs are enough.
https://www.bloomberg.com/news/articles/2022-09-23/bofa-says-cash-is-king-as-investor-pessimism-hits-2008-era-high
I listened to Debbie Downer and stayed with cash. Now waiting for bonds to get serious.
Looked like a car-crash in the UK today after our 'mini-budget'. Have some shares and they took a decent kicking. Sterling also plummeted which doesn't help when the root of the problem is energy priced in dollars.
I just transferred some cash from savings into a brokerage account, anticipating that a buy moment is coming, perhaps similar to the March/April 2020 bottom. I wish I had had more guts then - that's still 50% up since then
Wealthy millionaire millennials distrust stocks and bonds: BofA | Fortune
https://fortune.com/2022/10/12/wealthy-millenials-shun-stocks-bonds-buy-crypto-alternative-assets/