I think it is OK to be cautious, however I believe it is a good strategy to have a mix of asset classes. There will be winners and losers at the end of this and I happen to think that Barretts will be one of the winners, it might take 5 years but if they reach their peak I will be 20 X up. Its all a gamble at the end of the day, I have to admit though that rights issues make me nervous. Barrate sonly amount to 0.5% of my total portfolio. I also bought RBS at 12p - another gamble!
I have just bought "Threadneedle UK Property Accumulation" it is a commerical property fund and is sitting on over 50% cash waiting to buy property at the right price. The commerical property sector has been absoluetly hammered but unless the UK shuts up shop this will recover.