If you are willing to buy a very blue chip stock and sit on it for 5 years then now is the time while the markets tank.
Real estate also has some great bargains but renting and selling are to bad plays as well at the moment. The ability to buy and hold in either market is the key at this time.
I run my own real estate forum at
www.magicbullets.com where 5000 real estate investors stop by to dispense wisdom on this topic.