I would suggest something similar. Read about permanent portfolios, i.e. investment strategies that balance different things that exhibit low correlation (e.g. stocks, bonds and real estate).

For stocks, an index fund is a fine choice, but I would invest progressively to avoid getting screwed up by wrong timing.

Another idea is to allocate a small part of your portfolio for a fund that has similar ideas to Universa Investments & Taleb, i.e. buys you insurance for tail events.