All of that said, today I read an article entitled "Where to Put Your Money in 2012" written by Burton Malkiel, a Princeton economist whom I have referenced before. The article is well worth reading, not because of any predictions, but because Professor Malkiel does a great job of providing wise perspective about long-term investing. Here is a quote:
"Whatever the specific mix of assets in your portfolio at the start of 2012, you would do well to follow one crucial piece of advice. Control the thing you can control—minimize investment costs. That is especially important in a low-return environment. Make low-cost index mutual funds or ETFs the core of your portfolio and ensure that any actively-managed investment funds you purchase are low-expense as well."