A little of both

Gary Shilling: Cash Is King, Stocks Are Still Doomed

Say this stuff often enough, and sure enough, you'll be right.  In this case, though, look at the returns you would have missed out on.  Still, I actually think it may be time to start moving more toward cash, because, yes, the crash is coming.  We just can't be sure when. Of course, I wouldn't take this Mr. Shilling's advice on bonds either, because the same holds true with them.  Cash or whiskey.  Whiskey if you expect inflation, and cash if you expect deflation, so maybe a little of both.