Writing an opinion piece for The Australian Financial Review, Tribeca’s Jun Bei Liu discusses the challenges and opportunities of 2020 and looks ahead to a promising year in 2021.
This year has been a year of many incredibles – incredible human spirit and resilience that pulled us through a global pandemic, incredible social responsibility displayed by our corporations in times of crisis, and of course an incredible government and central bank response to help steer economies out of the deepest global recession since World War II.
But also worth noting in the list of incredibles is the performance of the Australian equity market, which turned in an almost flat performance for the year, despite extreme levels of uncertainty.
In a way, the equity market is a reflection of positive human spirit.
For an active equity investor, 2020 has also been a year of tremendous opportunities. We were able to invest in some of the highest quality businesses at a fraction of their inherent value, across a range of sectors.