Investor Winterizing 2011 - Special Report

Single-country ETFs can offset some of the broad market turbulence in Europe, while dividend-paying stocks and bigger companies can soften some of the gyrations in your portfolio.

Money managers say take tax losses in cyclical sectors that suffer the most in a bear market and invest the proceeds in more defensive sectors.

A portfolio of multinational companies yields income even when the stock market declines.

Given the debt and growth problems plaguing the U.S. and euro zone, and the resulting tumult across world stock markets, it might be a good time to go further afield.

With inflation still looming as an economic wild card, investors are taking a closer look at asset classes that traditionally outperform as consumer prices rise.