Investors are increasingly favoring bonds over stocks, according to a new article from Sam Mamudi in the Wall Street Journal. The old adage that long-term investors should pile into equities is fading from view.

In addition, Mamudi says, many investors now want to incorporate alternative assets such as commodities into their portfolios.

"The whole 60-40 idea is almost like Betamax videotapes; it's now passe," says Andrew Silverberg, co-manager of Alger Balanced Fund, in the article. "It gained popularity while we were still in a bull market ... [Asset allocation should be] more dynamic."

Read the full article here.