Another hedge for uncertain times is the health care industry. The industry has been beaten down with the rest of the market . Many of these companies are trading at low p/e multiples well below their norm. Three that come to mind are Sanofi-Aventis(SNY), Pfizer(PFE), and Merck(MRK). All three
are trading at p/e's under 13 with debt/equity ratio's under .25 and all sport dividends around 5% or better with Pfizer having a 7.5 % yield. You also have some added support by big name value investors buying in. Warren Buffets Berkshire Hathaway has bought into SNY and Bruce Berkowitzs Fairholme Capital has about 10% of their fund invested. Plus all three have growing free cash flow.