Do you think it is sound to grab all risk-adverse assets during bull market and riskier assets like equities and REITs during bear market?

Yeah you are definitely correct in a sense ah, i mean thats in theory and seems at first glance to be true. It easy to relate economic downturn to lower prices for etfs/equities, but u have to understand may not necessarily happen too. Not sure if u study economics( i studied in jc ah), like everytime there must be this term 'ceteris paribus', means certain factors must be there for some stuff to happen. So not necessarily bearish/downturn then buy. For me maybe i just monitor the prices, like at the historical chart before i set a price in comfortable to buy with.