ETFs are probably the way to go for you... though, I don't use too many of them... they make up about 5% of my portfolio
my portfolio takes very little active participation.
it's 97% stocks, and 3% for bonds, I just hold a corporate bond ETF fund that gives you an exposure to corporate bonds yield. This is what many hedge fund managers do also. (Ishares HYG is the name of the bond fund) make around 12%-15% per year on it through good times and bad. Karen Finerman on CNBC's Fast Money always suggests it to her viewers as a hedge that always makes money...
the rest of my portfolio is based on bargain buyiing opportunity. right now it's 70% Canadian, 27% US, a small amount in Egyptian companies. I have exposure to many sectors- banking, semiconductors, automotive, death services, healthcare, internet search, advertising, technology, security, ticket printing, hot water tank rentals, auction and liquidation services, satellite tech, software, utilities, smart phones, GPS and insurance.
IMO, the bargains currently exist everywhere, but you do have to look. I'd consider sector ETFs and rotate them in April/May for rebalancing- ie, only ones that no longer suite a 'buy' according to your investment beliefs... do this every quarter along with some near guarantee high yield ETF and you should be fine. others will argue for different views, of course. I made over 96% aror from the same time last year and in 2009 as a year's return I did 84%, but to be honest I only average about 20% aror for the last 15 years. 2008 was painful. remember a -50% 2008 takes a +100% 2009 to get back to where you were in 2007!
and I do believe that there is a strong correlation to eating or getting pussy and stock market performances. not sure if it's the more i get the higher my returns or the reverse! good luck.