Back from the holidays and hopefully you all had a nice time. If you recall we are in cash (which in itself carries a certain amount of danger, remember the old saying about markets going up for much longer than you think) because we are expecting some sort of rupture in the markets that will provide us with buying opportunities. Commonly when in this situation you will be sorely tempted to spend some of your cash, but look at the global evidence. In the US the market seems to be stalling and has not really moved in the last few months. In Europe the so called Brexit is consuming all thought and many countries in that block are stagnating or falling backwards. Much the same can be said of Asia, and globally it seems that optimism as at somewhat of a premium. Under these conditions, unless you can find solid companies paying a reasonable dividend better to keep your money as global interest rates are not good. If you want further encouragement you will be in good company as this what the worlds greatest investor does.