I can only speak for myself. All of my investments, 401K, etc. are in cash or short term money markets. Except a little in a mutual fund that is more like a hedge fund - all the positions are hedged with puts, and a little in a bond fund. I’m nervous mostly about the bond fund since last week’s auction wasn’t met with high fives and handshakes. Despite the deflationary pressures that surround us, the market’s not lovingly embracing the long rates right now which it should be. Says the market’s too flooded with money right now - but companies are slowing down; weird. The corporates in that fund are basically boasting depression yields.
So if you’re REALLY nervous, go to cash or if your 401k won’t allow cash, go to the shortest term money market fund you can find. You can go to cash in most IRAs.
The only silver lining I’ve seen of O’Bomber’s promises (hedge that), is that he would allow penalty free withdrawals from IRAs. Not tax free (of course not!). But you could still get your money (if he doesn’t first).
My 401k is also in cash, but now I worry about the D’s proposals to seize 401k’s and fold it into SS. I’m near retirement, and would be quite disgusted should this happen.