Well, fundamentals haven't change a whole lot since last year.
I don't think this is a 2008-style downturn because unlike them, we don't have a "cataclysmic" event that's hitting us right now, like subprime mortgages. (We do have plenty of those in the horizon though). I think we'll see a few more huge pops into next year before the next downturn.
WITH THAT SAID, hedge yourself / diversify properly, if you're going to put money anywhere. Don't put all your money in VIX and XIV lol. I'm staying cash and putting all my time in building my startup. A whole lot less stressful than trading at the moment.