Certainly, many investors are choosing to move their assets away from stocks and into cash products such as money market accounts and certificates of deposit.

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For example, a "single account" is one account category that includes deposits in checking, savings accounts, money market deposit accounts and time deposits such as certificates of deposit (CDs).

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Money market funds and cash equivalents (short-term certificates of deposit, T-bills) will yield below 1.0 percent for several more years, thereby generating a negative real return.

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Following a prominent fund's "breaking of the buck"--that is, a decline in its net asset value below par--in September, investors began to withdraw funds in large amounts from money market mutual funds that invest in private instruments such as commercial paper and certificates of deposit.

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Even in this volatile market, it is not wise to hold all cash or low-earning certificates of deposit.

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