Shamrock Newsletter - August 2024

Monthly Newsletter

August 2024

July ends with calm markets and

ushers in a turbulent August.

The trading public is feeling high fear at this time. Much of the rhetoric is calling for a recession as we see some weakening of economic data. Employment, consumer sentiment and housing all are showing some signs of slowing. So, will there be a recession, or will it just be a slowing of growth? Currently, it looks more like we will be sliding into a slower but still growing economy. Most market experts are expecting added rate cuts yet this year. The impact of those rate cuts could help the economy with somewhat of a lag. It takes time for them to work and often a dip right after they begin. We could see the market struggle to find footing over the next six to 10 weeks. This market sell off feels pretty normal even if it is unpleasant. We will keep watching and keep you updated.

Peace,

Will

Market updates here.

Market Thoughts -

August 2024

Commonwealth CIO Brad McMillan recaps July's market and economic news.

Click on the left to find out more.

TEAM NOTES

Will's Ten Gold Medal Moments

The Olympics always surprise me in what I get captured into. I am amazed by the impact of the idea of this event and what it tries to inspire in the world. I really enjoyed the games in Paris for 2024 (The mechanical horse running on the water in the opening and of course the Knowledge and Joy of Rowdy Gains). Here are some of my favorite Olympic memories:

The 1992 Dream team. So groundbreaking at the time and it was mind boggling how advanced they were relative to the world basketball community. Was anyone luckier than Christian Laettner to have been included on that team?
The fact that the Grateful Dead, with the help of recently deceased Bill Walton, underwrote the Lithuanian national team as it was newly freed from the collar of the Soviet Union.
Each week Jim McKay would host “Wide World of Sports” The opening theme is legendary, with one image in particular stands out to me. It is an Olympic moment that I wasn’t old enough to remember but the repeated image every Saturday was incredible. The gymnast, Olga Korbut, whose chin was supporting her athleticism and full body mass with gritty determination.
I must admit I was head over heels smitten with Mary Lou Retton and her success as a 15-year-old in the Summer of 1984.
Flo Jo’s flair and skill.
The 1980 Boycott was my introduction in the mystery of the Cold War that I am still fascinated by.
Bobby Knight calling his shot on Michael Jordan as the best basketball player he had ever seen, and Michael hadn’t even played in the NBA yet. That 1984 team was incredible.
Watching Edwin Moses and his strength and grace attacking the hurdles
Michael Phelps career and dominance.
The sublime humanity of Muhammad Ali lighting the flame at the 1996 opening ceremony in Atlanta.

Kurt & Tammy's Excellent Adventure!

A Trip to Red Rocks Park & Amphitheater

Tammy and I had the chance to go to a concert

at Red Rocks Park & Amphitheater. We saw

Lyle Lovett and his Large Band. The venue

is very beautiful and open, yet you felt a

welcoming warmth.

I likened it to the concerts at the Minnesota Zoo, just on a larger scale and better scenery. Nobody warned us of the upward hike to reach the seating area. So that was a surprise, but we made it.

Overall, had a great time!

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Will Berigan CFP® Wealth Advisor Shamrock Wealth Management | shamrockwm.com