It’s an important question. In a world of very low interest rates, and with the potential for future inflation, there is a scarcity of choice of where to invest.

This new note on large cap tech, from Novel Investor caught our attention, not the first on the topic.

The global rush for safer assets has led to a significant rise in global, negative-yielding bonds, after declining for six months. The total of negative-yielding debt remains well below its high of more than $17 trillion in August, now standing at $12.4 trillion.

New data from Bloomberg estimates the chance of a U.S. recession at some point in the next year is just over 1 in 4. That’s higher than it was a year ago but lower than before the last recession.

General Eisenhower once said ‘In preparing for battle I have always found that plans are useless but planning is indispensable.’

Everyone has a plan, until they get hit in the mouth. One is reminded of a well known boxer's observation on plans and experienced reality, after the last week of extraordinary market volatility.