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A bird in hand is worth two in the bush




By Michael O’Connor

Inflation was already at its highest level in four decades before war broke out between two countries that are vital to the global supply chain.

This unrest has undoubtedly impacted any transient outlook for inflation over the short term, putting further pressure on the Fed to take immediate action to tackle inflation.

As hopes for a ceasefire fade and a war of attrition unfolds, these inflationary pressures look set to remain, increasing the likelihood of a policy misstep by the Fed.

While the probability of a recession has increased over Q1, the strength of the US household balance sheet and company profit margins make it difficult to be ultra-bearish.

If we do experience an economic contraction, it will occur in the face of the strongest job markets on record, the highest corporate earnings since the 1950s and the most robust consumer balance sheet in history.

Labour Market Strength

Despite the surge in unemployment following the pandemic, we are now essentially back to pre-pandemic unemployment levels.

More importantly, the pre-pandemic high for job openings in the US was 7.5 million. We're now sitting at more than 11 million job openings in the US.

US Unemployment Rate

US household net worth is now more than six times annual Gross Domestic Product (GDP), driven predominantly by rising asset prices, increased savings rates, federal support and wage growth. This household wealth can drive consumer demand and company profits into the future.

Corporate Earnings

S&P 500 earnings per share jumped 35% in 2021, making it the most profitable year for American corporations since 1950.

In every quarter of 2021, US corporations' overall profit margin remained above 13%; a level reached during only one previous quarter in the past 70 years.

While ultra-forgiving 2020 comparison stats lend themselves well to record-breaking year-over-year stats in 2021, the point remains - US companies boast resilient profit margins supported by a robust US consumer.

Where to Invest

Volatility is likely to remain as we enter into Q1 earnings season.

Netflix has already shown how unforgiving the market can be. Two disappointing earnings reports have resulted in two consecutive 20% declines as this previous market darling becomes the poster child of growth stock volatility.

Similar growth names are likely to come under continued pressure over the short term as interest rates rise, so don't attempt to catch the falling knife just yet.

'A bird in hand is worth two in the bush' explains the waning allure of growth stocks quite nicely. Simply put, as inflation eats into the value of money, investors look to companies with cash flow heavy balance sheets already in place instead of those promising these cash flows in the future.

Again, short-term equity exposure should be aimed toward companies that can pass on rising prices to consumers without disrupting their net margins. This trend has played out across higher inflationary periods in the past, namely the 1940s and the 1970s.

The Final Word

The market will remain choppy as investors digest the Russia/Ukraine war, high inflation, and a hawkish Fed but economic growth and earnings trends remain healthy. And if inflation can moderate over the year, assisted by higher base rates, it may allow the Fed to take its foot off the gas.

For the full market outlook, visit

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Ghost hunter’s video goes viral

By Michelle Crean They have a love of things that go bump in the night – and it seems the public do too – as a Killarney man’s ghost hunting […]




By Michelle Crean

They have a love of things that go bump in the night – and it seems the public do too – as a Killarney man’s ghost hunting video has gone viral.

PJ O’Sullivan from Púca Vogue Paranormal Ireland and his ghost busting team posted a video online around Christmas time, but it was only over the last two weeks that it went viral – clocking up 1.9 million views and over 2k likes on Facebook.

“We were naturally shocked ourselves at this,” PJ, who is originally from Gneeveguilla but lives in St Mary’s Terrace in town, told the Killarney Advertiser.

The video was taken in Redwood Castle in, Lorrha, Co Tipperary in October when the Irish paranormal investigator invited like-minded people to the location for Hallowe’en.

PJ, who has been a paranormal investigator for over 15 years, set up Púca Vogue Paranormal Ireland three years ago and works alongside his son Leo and his partner Eva Walsh.

In the clip, Eva and Liz Kelleher are in the background with singer/songwriter Rebecca McRedmond front and centre.

“On the night we had a total of 10 people in the castle for the lockdown investigation including our own Rory Murphy and Veronika Slomiany,” he said.

“It was filmed on the ground floor inside the main entrance area. It was a Hallowe’en paranormal investigation where we had guests including Damien O’Rourke from Cuppa Tea TV.

“We were investigating the ground floor. It was filmed in total darkness and Rebecca had felt a touch as we started and shortly in this clip she felt another touch at her leg. Eva had also commented the room had now felt tense, so on review of the footage we can see what we believe is her dress floating outward, and on inspection both her ankles show her feet were on the ground; there was no drafts, and it tied in with the experience so we shared that clip.”

He added that they share clips from investigations but let people decide for themselves what it is that they see.

“We share what we believe we capture and this is just a few minutes as a part of the whole night as we investigate the castle over all floors usually from around 9.30pm to 4am with breaks and we have up to five cameras recording in 50 minute segments continuously which we download after for review. But as you can imagine with full-time jobs and life it takes time to review all the footage so we mix what we do with pictures and sites of interest. We are non-profit on all events. We had done Leap Castle the previous night, this is claimed as Ireland’s most haunted castle and again shared the experience, but this is the reel that just took off on Facebook which has us surprised, but we are all very proud of Púca Vogue Paranormal.

“This is not our first capture from this castle as we have previously shared on their social media, we experienced more on the night which we will share at future dates.”

To see the video go to our Facebook page: Púca Vogue Paranormal Investigations.

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Bean in Killarney to cease trading due to rising costs

By Sean Moriarty A Plunkett St coffee shop has been forced to shut its doors due to the soaring costs of doing business. Bean in Killarney opened in late January […]




By Sean Moriarty

A Plunkett St coffee shop has been forced to shut its doors due to the soaring costs of doing business.

Bean in Killarney opened in late January 2021.

Last March it was named as one of the ‘Financial Times’ list of ‘Best Independent Coffee Shops in the World’.

It was just one of 30 coffee shops worldwide – and one of only two in Ireland – to make the list, which includes entries from world cities like Paris, London and Sydney.

Bean in Killarney is a sister café to Bean in Dingle which was set up by brothers Justin and Luke Burgess.

The local branch was managed by brothers Joey and Euan Boland, who are also from Dingle.

It was a popular coffee stop for locals and visitors alike but despite its popularity and accolades, the business could not survive the current economic climate.

“After two great years we have made the really tough decision to close Bean in Killarney,” said a company statement.

“We opened during the height of the lockdown with the hope that when all restrictions came to an end, the shop would kick off like the Dingle one did.

“However, 2022 brought about new challenges and unfortunately ended up being harder rather than easier. We are a family-run business and rapidly rising costs meant we traded less than we did during 2021’s numerous restrictions. We had hoped to ride out the storm, but it’s not possible to continue operating at a loss.”


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