Many people don't know what a bond is anymore. Well, actually I do have a small holding in a U.K. Internet stock, which is owned by a cousin of mine. But mainly I'm in cash and bonds. I sold most of my stocks recently. Also, I have some Japanese property stocks.
Japanese stocks are very depressed at the moment.
They seem to be a good value. But I was interested to see what stocks performed well in the States in the 1930s, and ones that did best were tobacco and gold. At the moment, I'm reading Paul Krugman's The Return of Depression Economics . I'm reading a biography of John Maynard Keynes by Robert Skidelsky called Hopes Betrayed 1883-1920 . And I read Dickens for relaxation.