While you needed a Costco-size supply of Dramamine to survive the stock market's choppy ride to nowhere both last year and over the past decade, you required no such relief when it came to your bonds -- or at least one type of bond.
Personal spending on items such as clothes and travel has perked up lately. To date, though, most of the money has flowed to either end of the retail spectrum: luxury chains that target wealthy consumers who don't have to watch their wallets or discounters catering to households worried about making ends meet. The stocks of these retailers have been bid up accordingly.
A big investment theme of the past decade has been the growth of emerging markets catering to Western consumers. The story of the next 10 years may be the reverse: the rise of U.S. manufacturers supplying developing countries as they invest in the equipment needed to sustain growth.
Companies that strive for greater work-life integration should be prepared to deal with issues that never entered anyone's mind when people kept personal life safely at home.
Seeking shelter from the stormy market? Think tech, especially big, established technology companies, which could rival traditional plays like utilities and consumer staples as premier defensive investments.