Despite the conflict in Iran, we have still not witnessed a stock market crash. Will this change soon? Nobody really knows.

The FTSE100 is variable, but overall in 2026 it increased by 4.15%. It has increased by an impressive 20.5% in 12 months. After dividends are reinvested, the total return approaches 25%. However, investors remain understandably tense.

According to the International Energy Agency, the world is facing the biggest oil shock in history. If the tanker route in the Strait of Hormuz remains closed, Macquarie Group warns that oil could reach $200 by summer. Today (May 4) is a public holiday and the British market is closed. What can we expect when we reopen tomorrow? It may go down, up or do nothing. But the thing is, I’m not worried about what that means.

What will I do during a meltdown?

Last week, Brent crude oil reached a high of $124 per barrel. Today it is down to $109. The mood was improved by Donald Trump’s promise that the United States would guide ships through Hormuz. He also said that talks with Iran had taken place “very positive” and may lead to broader de-escalation. If this happens, the FTSE 100 could rise tomorrow. But a fresh failure could trigger a long-feared disaster. It’s hanging in the balance.

However, guessing market movements is pointless. Instead, I focus on purchasing opportunities as they arise. I see a lot of compelling buying both in the crash and today when there actually wasn’t a crash. One of them is a private equity company listed on the FTSE 100 stock exchange Group 3i (LSE: III).

The investment trust has a history dating back to 1946, when it was set up to lend a hand UK compact and medium-sized businesses secure long-term capital for reconstruction and expansion. Today, 3i takes control of mid-market companies and manages them to generate sustainable growth and returns for shareholders.

One company did so well that it is now worth 70% of the entire 3i portfolio. Discount retailer of non-food items Action is dynamically developing in Europe, constantly expanding and managing thousands of stores. In 2025, net sales increased by a further 16.1% to EUR 16 billion. Now 3i is getting ready to take down the United States, which will take things to another level.

Ready for a gigantic recovery?

Despite Action’s stellar success, 3i shares are down 22% in the last three months and 40% in a year. Personally, I think they rose too high and too brisk. Action’s sales growth has to snail-paced down at some point. Many investors may also be concerned about expansion plans in the US because it is a challenging market to break into.

3i is also impacted by broader equity market uncertainty. Stocks tend to fall faster than the index on bad days and rise faster on good days. But here’s the most invigorating part, in my opinion. The investment fund is currently trading at a discount of 15.8% to the underlying value of its net assets. It has been trading at a premium over the years. I think this solution is worth considering for investors ready to take on this challenge. I took advantage of the recent declines to buy more myself. Likewise the directors of 3i.

History shows that even if we have an immediate disaster, it won’t last forever. Whatever happens next week, I’ll be watching closely to see which stocks turn out to be the best opportunities.