And there's more. While the stock market may be all the rage in recent months, budget debates, $100 oil and/or declining economic growth could potentially dampen enthusiasm. Even if the "expected" does not conspire to create a bit of stock selling or Treasury buying, the "unexpected" may.
For all of these reasons, I would encourage risk-takers to balance their riskiest desires (think homebuilders and small-caps) with a helping of equity income producers. I like international REITs via SPDR DJ International REIT (RWX), iShares Emerging Market Minimum Volatility (EEMV) as well as nontraditional equity income resources like iShares MSCI Australia (EWA).
You can listen to the ETF Expert Radio Show "LIVE", via podcast or on your iPod. You can follow me on Twitter @ETFexpert.