The last six months have been stressful for Australian equity investors and despite the ASX200 delivering a total return of 1.1% (capital appreciation plus dividends), it has been an emotional rollercoaster. December’s Santa Claus rally turned into a brutal hangover in the New Year, similar to that given by excessive consumption of four-litre cask white wine from Southern Queensland. The market then staged a recovery in March and May, before falling in a heap in June due to the surprising outcome of UK vote to leave the European Union. In this week’s piece, we are going to look at what has happened over the first half of the year, some key themes and analyse the catalysts that contributed to the top and bottom performers.