Anyone who takes JohnGalt's advice should bear in mind that he has a time horizon of perhaps 1 year.
I hope he'll live longer than that.
But I will agree he's much more conservative than the typical ER-minded person. It's good for people to know that, but it's also good to see that one can make ends meet with such safe investments.
For Natalie, I also agree that after the CD matures it greatly depends on the time horizon and risk tolerance as to where to put the money. Picking on JohnGalt again, he can't stand to lose any value in his investments, but in my case I generally have a 10-30 year horizon, and the consensus seems to be that a high concentration of equities are right for me, and I'm comfortable enough that I feel I can ride out the lows. But JohnGalt is retired and I'm still working, so there's that to consider, too.