In November 2006 I recorded the following podcast after reading a book by Nassim Taleb and another by Benoit Mandelbrot.
http://itunes.apple.com/us/podcast/the-meridian-podcasts/id194112396 click on Misbehaviour.
Listening to this podcast I sound almost prophetic, it is literally scary.....except not even I anticipated what was coming. My advice isn't as good as it could have been, though it was reasonable. Essentially I said if you can't handle the worst historical fluctuation of stocks, you shouldn't be in them. I did say "I don't think we're going to go through another Great Depression".....I might just be wrong on that one.
The article I link to above is interesting because Taleb believes the stimulus and current economic policies are the wrong direction for this country - I tend to agree.
Bottom line - The improbable events....happen. The US is taking a huge risk in the amount of debt we are piling up.
Scott Dauenhauer CFP, MSFP, AIF