Dan Kemp: The first thing to think about when trying to protect your portfolio against a possible correction is how confident you are in that correction happening. If you are not as confident about the next six months as you are about the next 10 years, then don't eliminate risk – think about reducing it.
When you are reducing risk, then don't rely on old relationships between asset classes. Typically people look for bonds to rise when share prices fall. That's happened in the past but might not happen in the future. Don't rely on it. Think about using cash instead.
And finally, many products overpromise the protection they offer in a falling market. Don't invest in what you don't understand.
