Geo-political events and broad macro-economic themes were among key factors impacting Australian and global share markets throughout FY2017. Surprise events, such as the election of Trump, generated considerable short-term volatility and weaker consumer sentiment weighed on discretionary retail stocks.
Dissecting the last 12 months in equity markets provides a number of important investment lessons, including the importance of fundamental macro drivers and strong company balance sheets.
I expand on these and other important lessons from FY2017 below.
Chris is the Chief Investment Officer of Wilson Asset Management, having joined the company in 2006. He is also the Portfolio Manager responsible for WAM Capital (ASX:WAM), WAM Research (ASX:WAX), WAM Active (ASX:WAA) and WAM MicroCap (ASX:WMI).