Nobody knows better what it's like to go over a cliff than Wile E. Coyote. Try as he might, the famed cartoon nemesis of the Road Runner never seemed to have a chance, and always went crashing down, despite all of his crazy contraptions.

And here in investor land, you'd think we were facing an similarly hopeless fate, as the post-election gyrations continue to skew towards risk aversion and safe havens in the face of fears about the approaching fiscal cliff.

Specifically, we've seen gold, silver, treasuries and the dollar all benefiting from the turmoil at a time when stocks have been taking an absolute drubbing. While that reaction is understandable, I discuss whether or not it's smart in the attached video with Peter Kenny, managing director at Knight Capital.

"The gold trade is still very, very relevant," Kenny says, as long as we don't "see some sort of discipline in monetary policy." While clearly aware of the possibility that gold could fall, he's says for the time being, with the three major economic engines of the world (U.S., China, Europe) all providing a similar solutions to weak demand or decelerating GDP, gold is still valid.

As for Treasuries, where the 10-year yield has slumped to two-month low beneath 1.70%, Kenny is staying away from what he calls "a bet on the American system" in favor of greener pastures.

"I'd much rather be on the side of corporate debt and dividends," he says, adding that investors will get much higher yields in large-cap tech or some blue chip stocks.

"I'm going to buy corporate debt, companies with a lot of cash," he says, pointing out that he's ''shopping more than selling'' right now and thinks, after the recent rout, that there are lots of really good stocks with low P/Es that pay high dividends.