New Zealand's A2 Milk Company one to watch in 2023

Twelve months ago, he started the year by worrying about inflation and rising interest rates.

He still is, though he suspects both may be turning around by the end of the year.

He would not be surprised to see the all ordinaries index drop back to around 6000.

It ended 2022 at around 7200, but it sank to around 6600 twice during the year and could go even lower this time.

However, he is too reluctant to lock in losses by selling any of his existing holdings, which may be a bit silly.

Instead, he is sitting on his hands but keeping a close eye on a number of stocks.

Australian Dairy Nutritionals (ASX code AHF) is back on his watchlist.

The rebels who tried to replace some of the directors appear to have accepted defeat, and the chairman, Martin Bryant, recently bought himself an extra 1 million shares at 5c each, which is a substantial vote of confidence in the business.

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Shares in Welland (WLD), once a major livestock exporter but now principally a specialist shipping company, fell steadily all year but began rising again in November.

Welland almost doubled gross profits in the last financial year, its third profitable year in a row.

New Zealand's A2 Milk Company (A2M) was one that the Punter's radar missed last year.

Double-digit growth in earnings and revenue saw the shares almost double last year.

They have since eased back, but it may be worth watching.

The Punter still favours Lithium Australia (LIT), which has transitioned from a would-be miner to a recycler of batteries and high-tech producer of lithium carbonate for battery manufacturers.

However, lithium prices, which soared last year, have been easing since November and are expected to fall further as demand in China slows.

The Punter, who already holds 45,000 LIT, will not be buying more just yet.