While investors have already begun guarding their portfolios against inflation, current data has yet to exhibit clear signs of this particular economic worry. The market for inflation-protection investments has run up hard and fast despite little hard data. Fears caused by inflation or even deflation, however, remind us of why it is increasingly important to have a well diversified portfolio. Chasing inflation fears or any trend is likely to result in losses. A well-diversified, long-term investing approach is the best way to battle economic uncertainty. While actual inflation is low, it may be the best time to invest a small portion of your portfolio to guard against it for the next few years.