Ann: Annual Report to Shareholders, page-41

IMO there will always be some stocks that will provide very large returns. To get the larger returns in this sort of market we need to buy the bigger dips when it seems everyone else just wants to sell and we need to be really good with our stock selection. A bit of luck can help too.

I found Philip Lowe's speech very bullish. No wonder the market was up so much. Economy is still strong, i.e.no sign of recession but they were still prepared to raise rates by half the expected amount to assess what happens. They also expect inflation to come down to 3% in 2024.

https://www.rba.gov.au/media-releases/2022/mr-22-33.html