I’ve got a 401K that I can’t do much with, so that will stay diversified in bonds,small and large cap, and international. I’m still in my 20s, so I’m not going to concern myself much with the fact that it may lose some significant value in the coming year or two.

For my other investment money, I’m preserving what money I have by investing in foreign currencies (Euro, Swiss, Swedish) and gold. I like the Merk Hard Currency fund, but the expense ratio is kind of high (1.3%). The fund is up 12%+ YTD, but it should be relatively low risk. No other fund like it though – the other dollar short funds are more risky, but could suit your needs (Pro Funds, Ryder, Templeton).

I also play around with a smaller amount of money. Right now I’m in energy but looking to possibly take some profits. I’ll play until the end of 2007, then probably go even more conservative with everything. Once the China/India bubbles pop, we’ll see a worldwide sell off. Not sure when it will happen, but just waiting like I am with real estate.