If you were a lawyer, people you know would ask u your legal advice. If you were a doctor, people you know would ask for medical advice. But you are a trader so what do you say when asked for investment advice? In the past I've generally said: 1 Stay away from stocks - buy index ETF funds. Indexing is the only viable long term strategy. 2 Don't buy now - things will likely get a lot worse. 3 Don't panic sell now, you'll likely regret it in a few years. I got tons of questions from people whether they should buy C at $5, and GE at $18, BAC, etc. I always told people to stay away from individual stocks and I feel good about that. But I wish I had told everyone to sell everything at Dow 11k cause once it broke 10k it just crashed from there. So now here are my new talking points: 1 Don't pick individual stocks. Stick with an index ETFs. Indexing is the only viable long term strategy. 2 Move more into bonds as you get older. 3 Look at the CAPE ratio to determine whether you want to invest above or below fair value. And the market can remain above or below fair value for decades.