What if I take a bet (CDS) with ChrisLKKB for £1000 that 99jolegg will loose on his CDS. And then I default on my payment of £10 to helimutt. I win £1000.
Then you would be insider trading, which is of course illegal.
There are some real bargains with sub-15 P/E ratios right now.
Tricky - many companies have not yet reported this year, and the effect of a full year of minimal credit will have a worrying effect on the earnings side of the equation. Expect PE ratios to fall naturally before they climb.
So say I had £10k to invest in shares. Where would be the best place to buy? Maybe I can make something out of this misery?
We cannot give you investment advice here. If you are brave, some shares have been hit by irrational sentiment, while others have more defensive or counter-cyclical properties (think defence, tobacco, security etc). In the absence of Warren Buffet, you will have to identify those yourself.