Posted by Ashleigh Symes on Jul 06, 2022
Charles Thomasson's Presentation
Charles presented on the ‘State of the Market’ with references made to the Wilsons research note on ‘Inflation fixation’ handed out to attendees (see Download files on the right).
Congratulations to those with the closest guesses for asset class returns over the last 12 months. Mark, who correctly guessed that International shares returned -18% in the last 12 months and Mario who was closest in guessing the previous 12 month return on Oil at positive +48% over the last 12 months.
Inflation was the main talking point that has proved to be ‘stickier’ than first thought and driving the selling pressure in equities. Our base case remains that slower demand and an improvement in supply side issues should ease inflationary pressure.
In answer to Larry Murray’s question on ‘what is the biggest contributor to Inflation or more specifically the Consumer Price Index (CPI)?’ Charles answered ‘Housing’ which has the highest weighting, contributing close to a quarter of this number.  
Charles finished by stating he has seen 5 major pull backs in his 15 year long career at Wilsons and emphasised not being too bearish on markets as historically markets have posted strong long-term gains following declines but did warn we might not be at the bottom yet.