Over the last few days, the standard investing punditry that is available on business TV and newspapers has turned fiercely negative. The consensus view is that we're doomed. The line-up of problems that are going to ruin us all is impressive indeed. Oil prices show little sign of relenting. Not only is the inflation rate rising, but so are inflationary expectations and that's supposed to be worse. The government seems set to transition from a principle-driven ally that was blackmailing it to an unprincipled ally that will blackmail it. Growth is slowing down. There is a ge nuine fear in the air. Among people who to invest in equities and equity-based mutual funds, the natural question to ask is what they should do now.