Think it really depends on your risk aversion. I'm 100% stocks, and pretty much always have been as my time horizon is long. Historically that's been the right call. Except, umm, pretty much over the time period I've been investing since the late 90's, lol. Maybe it's finally flipped back in favor of stocks nearly 20 years later.
For me, it's hard to imagine funding a long retirement with a large slug of bonds in my portfolio. My attitude is basically, get rich with stocks or die trying. That said, once I do have enough to fund that long retirement, I do plan to allocate 30% or so to bonds. Right now I think the call to not own bonds is really easy. They're just too expensive and the yields are terrible. Yeah, I understand the idea is to protect some of your assets in the case of a market downfall, but I'd rather take that risk then essentially have a large amount of my portfolio that's going nowhere and never will go anywhere. If the Fed manages to get the funds rate up to 2%, I'll start thinking about some bonds assuming I can see about a 5% yield.
Keep in mind, this is just my own strategy. I've got a huge risk tolerance - after all, I've already rode two stock market busts all the way to the bottom. All stocks is most certainly not for the faint of heart.
