fishy - I always concentrate on just a handful of stocks. I highly recommend it. Think deflation. Real estate prices will normalize as global credit availability contracts while banks shore up their balance sheets. Oil will go down as global demand for it sours and the price of all other commodities should adjust some as well. There may well be a commodity bull run left intact but I think there is a 20% adjustment about to be made first.
In the U.S. the average home price is 5x median income instead of the historical 3x. The United Kingdom has the same problem. I just don't think that will hold.