Unfortunately, what their clients often hear is "blah, blah, blah." It seems that a lot of people don't really want to listen to advice about reducing volatility over the longer term if they feel there is good money to be made right now.

Hence, many investors have loaded up their portfolios with natural resource funds, precious metals funds and Canadian equity funds that are heavily weighted in oil, gas and gold, attempting to achieve big short-term gains. "Damn the torpedoes," as they say.1 "Full speed ahead."

Right now it may seem like anyone who doesn't have all of their 'eggs' in natural resource funds or Canadian equity funds is missing out on a big boom. But every boom eventually busts and if you don't have some backups in place your whole savings program could suffer big time.