For a number of reasons we are getting less fearful about the market and have today started to provide a few stock ideas for Members as we "get on with it" rather than sit in cash. Whilst we don't anticipate a market uptrend, and can still see some risks, we do think the world is coming to terms with a new normal that includes living with the virus. Against that backdrop the equity market is discounting a lot of the economic negatives and we can see a host of undervalued stocks, attractively priced sector themes and specific stock stories. Whilst we get going again, a note to Members - we will not be chasing bubbles and will retain significant cash holdings. We will of course keep our eye on 'the market' as well and exit again at the first sign of trouble. But as of today we are selectively putting our toe back in the water with stock specific ideas.