Compliments of the season to you and your families. Have a merry Christmas and a happy safe prosperous new year.

Maybe 2015 was not the best of years in the Australian sharemarket. The All Ordinaries started off well enough (although this does depend upon whether you are a buyer or a seller) running from around 5200 at the start of the year to a high of just under 6000 in May. From there it was mostly downhill falling to 5000 at the end of September and it is currently about 5200 (where it started). So basically the Australian sharemarket as a whole has produced minimal growth this year. The main culprits have been the banks and resources. Nevertheless as has been a consistent theme with this blog what happens in the market as a whole does not matter over time. What is important is to have high quality companies that have favourable prospects that have been bought at a rational (not overvalued) price. The rewards from this approach for patient long term investors flow sooner or later.

Still it certainly wasn’t the worse year either. While there may not have been much capital growth income still flowed. So overall returns from the market have been positive. And what the heck we are still here.

Father Christmas is still out and about spreading his good cheer and Rudolf and his mates have not yet been replaced by uber.com or listed on carsales.com.au for a different pasture. Although any elves looking for North Pole employment may now have to go through Seek. And package their salaries with McMillan Shakespeare (and the word on the street is that Father Christmas is trying to get a novated leasing deal up for his reindeer), get their salaries paid into their ANZ accounts before getting their currency through OzForex for their Flight Centre overseas travel. And rumours are that the North Pole is going to be listed on REA Group’s website realestate.com.au as part of a leveraged management buyout funded through mezzanine financing and debt equity swaps advised by Macquarie of course.

So here is to 2016 and hoping that we find plenty of quality stocks with favourable prospects that become available at a rational price. And if interest rates could rise a bit that would be nice too. And here is hoping that the darn investment paperwork isn’t so overwhelming that it leaves us all totally fructured trying to work out how King Kong wants his bananas structured.

The next blog will be in February. If you really get stuck for something to read you can always read previous blogs on www.lifestylefstas.com.au