The same held true for Wall Street last year. Don't bet on it, say most experts.
Defense still looks like a winning strategy.
Defensive stocks benefit when there's uncertainty in the market and there's rotation away from higher-growth areas such as technology. I don't see a whole lot that's going to change that. But to some market observers, the defensive trend is played out. Bill Meehan, chief market analyst at Cantor Fitzgerald, believes these sectors will benefit only if there's a severe recession. And while they could provide reasonably good returns, Meehan doesn't think the risk-reward ratio is attractive.