Ann: DuluxGroup recommends acquisition proposal by Nippon Paint, page-30

I am also largely in the same boat @madamswer. I have taken a couple of starter positions in some smaller businesses that are risky but are nonetheless relatively high conviction.

The point you made about interest rates is crucial and will probably be supportive of valuations for the foreseeable future. This is a sea change from even some months ago where most of the chatter was about rising rates. The quick about-turn by central banks around the world, following in the footsteps of the US Fed, has now skewed the interest rate risk to the more accommodating/dovish side, so we can even expect a cut or two.

We can only hope for geopolitical tantrums or the like to offer a dose of volatility that in turn affords some opportunities to add to our portfolios.