What Next?

What should you do next?

If you were fully dependent on the market and lost most of your savings/capital, find a job. Try to survive until you save enough to meet other immediate needs.

If you saved part or whole of your capital from the avalanche, re-examine your situation:-
1. Make sure you have enough liquidity to meet your immediate needs. I would recommend 6-12 months of expenses in cash (under the mattress/in a safe/in a protected or insured savings account in the currency that you are going to spend). If you have a safe job, you can even consider your source of income towards this.
2. Look at your assets outside of this reserve, re-balance it. I would recommend going 80:20 into stocks:gold over the next 6 months. And, if you are young like me, a 5% on longer-term index calls in underpriced markets. Look for high-yielding stocks - either earnings yield or dividend and earnings yield. It means look for non-dividend paying stocks with high RONW and low PE or dividend-paying stocks at reasonable PE.