1.There is no safe place to hide at this point.
2.Bond is particularly dangerous, particularly the long term one. So I 'd shift some bond holdings to cash.
3.Stock is still the place to go, at least for a % of asset;
4.You just have to live thru the bad time if bad things happen again;
5.I do not believe in picking the stock winners, so I prefer low cost funds such as Vanguard's;
6.I practice Asset allocation and periodic re-balancing;
7.There is nothing to stop Fed from QEs and they may not have to actively reduce their holdings once they are done with it;
8.QEs may not have shown its intended effect (jobs, business growth), but Fed may still have to do it as a last resort;
9.If nothing else, the rapid US stock recovery is a good thing coming out of QEs, dittos the housing price;
10.Fed will stop QEs sometimes in future and the market will be disturbed regardless how they do it;
11.Dramatic US$ devaluation is not very likely, since both EU & Japan also love to devaluate theirs against US$;
12.International asset as place to diversify holdings;