australia's very own subprime crisis looming, page-163

Yes we've all had wins and losses on investments, and will continue to in the future, but in the current environment I would be reluctant to recommend anyone facing a job loss to invest in anything other than a term deposit. Shares could fall tomorrow, and property has no liquidity, when she falls you just have to hold on as many have for the last 7 years.

Time after time if we haven't preserved capital in a crisis we have come undone, and for most of the working class, a loss of just one income in a household is a crisis.

The unfortunate reality is every week we are watching 1000's of jobs being lost and I can tell you employers are not advertising so a job lost is lost for a very long time at the moment.

Plenty of blokes around that have done their arse twice over on stocks and property deals, many of them come back bigger and better than ever after learning some tough lessons.

If you can afford it, have income security, then go nuts on your preferred investments, but if you are facing uncertainty cash is king.