It is relevant to share that many market participants are down for the year.
A few of those are down more than 20% mainly because of high concentration. Diversification is a two-edged sword. If you consider that there is a chance that the portfolio might not recover as fast as the market. You might be correct, the flows into stocks and sectors now differ from those in 2015 to 2020.
Personally, I am updating the future risk/reward of equities.
Take a look at sector such as, Energy, Healthcare, Industrial and Utilities