Morgan Stanley is recommending a barbell strategy to play the market. Here’s what that means

A weightlifter takes part in a training session during preparations for the 2016 Olympic Games to be held in Rio de Janeiro, Brazil
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The stock market is trading at record highs as stimulus from Congress and the Federal Reserve appear to be reaching their end. Because of this, investors should hedge their portfolios with a "barbell "approach to protect against a pullback, according to Morgan Stanley.