Financial expert Phil Town, author of the new book Invested, sold his stock holdings in August 2007, right before the market peaked and what became the epic 2008-09 crash began to unfold.

Town only moved back into the markets at the March 2009 low.

He now fears another market decline of 40%-50% of current levels and is looking for an opportunity to exit his stock holdings to prepare.

(Editor's pick. Originally published March 27.)

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