Rush into exchange-traded notes that track the Volatility Index (VIX). A measure of market jitters, the VIX tends to surge when stocks fall. In 2008 the S&P 500 VIX Short-Term Futures Index returned 127%. But Wall Street introduced the new VIX ETNs (index-like funds) only this year. Yep, after the crash. "You don't buy flood insurance when the water is in your living room," says Scott Burns of Morningstar. --Carolyn Bigda
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