Good value shares to buy and hold right now IMHO are M & S £3.42 today British Land £7.43 and HSBC £8.04. I actually sold my HSBC holding about 5 or 6 weeks ago at £8.92 this has seemed like a pretty smart move as I took a neat 12% profit and had I held on this would have been not only completely wiped out, but I would be sitting on a paper loss of a few %.

I think that if you are prepared to buy and hold for up to three years, you should be OK at today's prices.

My own policy is a vey flexible one. I buy to hold medium to long term, but should I see an instant profit (as I made on HSBC in about 3 months) I will take it, 'get out' and continue to follow prices.

Tournament: The Open (known as this rather than the British Open !!!)

I backed this golfer (who won this year's Green Jacket) at 65-1 on Betfair.

Sneakily, I managed to lay off the bet in full at 55-1 !

The bet was for £12 which once I'd sold (or laid off) the bet in full, was returned to me in full £12.

Result. I have my £12 back in full and also the possibility of winning £120 if T.I. wins this tournament!