sneezy7 - Is it better to be in GIC's, etc.?Depends on whether one understands and comprehends the market terms, greed and fear!
I, personally, know three people over the last two years, who, along with their financial planners have put the majority of their financial assets in GIC's, term deposits, etc. One of them is my uncle in Calgary and, the other, my aunt in Montreal. It's not so much that they have gained a bit, but that they haven't lost any capital. Their investments are safe, secure, liquid and guaranteed by the CDIC.
Most investors who have lost money over the last couple of years will never recoup these assets. This reminds me of a great quote from a long-time conservative money manager in the USA, some years back. He said, "when it's time to get defensive (with stocks), just remember, that it probably won't make you any profits, it's just that you'll lose less." Food for thought!