Are there any predictions out there on what industr(ies) are more likely to be impacted? In 2008 it seemed to be centered around the financial industries and housing. Is that overly simplistic? Might we see a similar trend today? Partly I'm just curious, but partly I'm curious if I might find a good deal on a house.
For what it's worth, I'm partly in cash. Every few weeks I move a bit of investment to cash, trying to average myself into reducing risk. Fidelity sends me emails about being overly conservative, and I ignore them. I remember 2008 well. While I was invested in several different types of mutual funds, all went down at roughly the same percentages. In a bear market, being diverse doesn't change much. I also remember how much my retirement was worth. I don't remember exactly, but I think it was somewhere around an eighth of what it is today. The slide then didn't hurt much because my biweekly 401k contributions crushed it when the market recovered. Today it would hurt more.