Summer Newsletter
Summer 2023
Summer market activity exceeded expectations on many fronts.
A soft landing isn’t permanent. Eventually, you have to land and stop. There has been sustained debate about when or if a recession will show up soon. The consensus at the moment is that there will likely not be a recession in 2023. The economy has been growing - inflation has continued to go down. Inflation may spike a bit as a result of higher gas prices as we look back at July. Some respected economists feel like we may hit the Fed’s 2% target for inflation by the Summer of 2024. We have had some meaningful growth in investments overall so far in 2023. There may be some consolidation of those gains in August. In the meantime, we will stay vigilant and keep you updated as things change. Good luck out there!
Enjoy the balance of Summer.
Peace,
Will
August Market Thoughts
Brad McMillan, CFA, CAIA, MAI, Managing Principal, Cheif Executive Investment Officer shares his thoughts on what's going on with the financial status of our markets and economy as we head into summer.
TEAM NOTES
Will's Top Ten - Things he wishes he could do better.
(Maybe sledding could be #11)
Over time I have begun to accept a few key things that I can do well. It is easier to acknowledge all the things I do poorly because it allows me to hide in the safety of self-deprecation. So, as a testament that may lead to nowhere, here is a list of the things I wish I was better at doing. Regretfully, 10 is a significantly small list but to create a longer list could be too damaging to my ego.
  1. Singing
  2. Ice skating – I have lived in Minnesota for 36 years and I have never put on a pair of ice skates. I think this may have passed me by.
  3. Picking out great fruit at the grocery store
  4. Using chopsticks
  5. Fixing a car...wait, fixing a broken door…wait, fixing a broken window…wait, fixing a…you get it, right?
  6. Speaking French
  7. Downward Dog
  8. Hitting a golf ball
  9. Predicting the future
  10. Saying no to the Harry and David salesperson every time they call
Kurt enjoys a summer cruise with family and takes in some baseball.

There’s a delicate balance of helping your child as they grow their independence and supporting them. My son Colby and his girlfriend recently graduated college and are just getting their footing, so they are living with us for now. For some, that would not be an option, but I actually enjoy having them, as they won’t be around the house forever, so I embrace it. Here’s a picture of all of us (My Mom, Tammy, Me, Colby and Malia) enjoying a cruise of the St Croix River over the weekend. This is what it's all about.

Well, I guess I’m bad luck for our Chicago teams. My wife obliged me by attending a White Sox vs Twins game on July 22nd. This atmosphere was totally different than the Cubs game we attended a couple months ago. There were a few White Sox fans, but nothing like those adored Cubbies. Anyway, the result was the same, a loss. It was still a good time for me, I like going to live sporting events.
Heidi reminds us to spend time enjoying all the gifts nature shares with us.
Flowers, Bees, Dragonflies & first time I’ve ever encountered a moth like this!
Summertime is the best time for being outdoors and enjoying all the wonderful creatures that visit our woods, yards, and gardens. Remember to take a few moments out of your busy schedules to just sit quietly and observe the beauty of nature.
Enjoy your summer!
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Will Berigan CFP Wealth Advisor Shamrock Wealth Management | shamrockwm.com