PIBS are at present on my 'don't understand' list...I am at present about 95% in cash...slightly paralysed by fear of losing everything through ignorant mistakes.I haven't yet bought individual stocks, but have got a mental long-list - greggs is close to the top of it though (partly because their hq is about half a mile away, but there's an irrational investment criterion for sure!) I like your buy criteria, I have almost learnt enough to be able to implement that and even know what it all means ;-)I'm aware that my pessimism about economic circumstances may lead me towards the 'land, guns and oil' mentality (or the sovereigns sown into socks strategy) which isn't my intention at all! Also realise that the world is very different now than in the 30s, but still, I would be curious to know whether 'survivors' of that era had any specific features. For sure, it's hard to know quite where to turn, and which risk is preferable - inflationary risk from cash or volatility or worse from so called 'higher risk' assets.
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