News
Proceed with caution

By Michael O’Connor, theislandinvestor.com
Stock Market Surge
Last week we saw a considerable rally in the stock market. On Thursday, lower-than-expected inflation figures were well received, resulting in the largest one-day rally in over two and a half years.
Although US inflation remains near its highest level since the early 1980s, the latest monthly Consumer Price Index report brought some relief. Inflation rose at an annual 7.7% rate in October - down from 8.2% in September. This was enough to push the NASDAQ up more than 8%, while the S&P 500 added 6% for the week.
So as improving inflation numbers push markets higher, should investors be jumping in headfirst to avoid missing yet another market rally?
Not quite.
Not Out of the Woods Yet
In the last two years, we have seen rapid market recoveries play out at breakneck speed as Monetary support, ultra-low interest rates, and fiscal stimulus all conspired to drive markets higher.
In simple terms, when money is free, and governments are hell-bent on continuously printing more and more of it, asset prices increase.
This exuberance pushed prices and valuation multiples to questionable highs. Now, however, the money printer has been turned off, and interest rates have increased dramatically, leaving us in a far less supportive environment. Unsurprisingly, asset prices have fallen accordingly.
This recent pullback has stripped out much of the excess from markets, leaving stocks trading at much more attractive prices.
Household names such as Google, Microsoft, Amazon, Tesla, Disney, Nike, Netflix, and Facebook have fallen between 30% and 75% in recent months. Now, the entry points into some of the best companies in the world are much easier to digest. This is welcome news for investors with a long-term outlook. But over the short term, it is vital to realise that many of these names are trading lower for a reason.
It can be tempting to assume that we will return to all-time high valuations now that inflation is starting to turn and markets have stripped out much of the excess in valuations. However, as we stare down the barrel of falling earnings, slowing economic activity, a less supportive monetary policy and persistent inflation, it would be naive to think that it’s all upside from here.
The positive momentum from last Thursday’s inflation print will fade, leaving market participants wrestling with the looming recessionary pressures.
Taking all the above into consideration, I believe the stock markets will remain within the 10% range it has traded in over the last month. This is likely to result in volatile horizontal trading over the coming weeks and months as positive moves due to falling inflation give way to market declines as earnings growth continues to slow.
Summary
The market appears to be moving past its overwhelming obsession with inflation, but unfortunately, this paves the way for all new worries. The slowing economic activity that is allowing inflation to fall in the first place now becomes enemy number one. Softer demand will lead to lower spending, leading to lower earnings which should theoretically lead to lower stock prices.
Unfortunately, the ferris wheel of worry continues to spin.
Considering all the above, I believe the stock market will remain within the 10% range it has traded in over the last month. This is likely to result in volatile horizontal trading over the coming weeks and months as positive moves due to falling inflation give way to market declines as earnings growth continues to slow.
Over the long-term, opportunities are more plentiful than ever as valuation multiples improve but for those expecting to make a quick buck over the coming weeks and months, proceed with caution.
If you have any questions reach out at www.theislandinvestor.com, I'm always happy to help.
News
Proinsias says farewell to Gaelscoil after 33 years
By Michelle Crean For over three decades one face has been constant at Gaelscoil Faithleann but today (Friday) it all changes as the school’s first and only Principal to date […]

By Michelle Crean
For over three decades one face has been constant at Gaelscoil Faithleann but today (Friday) it all changes as the school’s first and only Principal to date says a fond farewell.
It’s a day full of mixed emotions for Proinsias Mac Curtain who was appointed the school’s Principal on September 1, 1989.
Today, the school’s 245 children and staff will host a number of events at the school for him which are sure to stir a few emotions.
It follows a special Mass on Innisfallen Island on Saturday morning as 150 children, staff members, parents council and Board of Management members boarded a boat for the occasion. And the location was apt as the school is called after the island, Proinsias explained to the Killarney Advertiser.
“It was lovely, it was meaningful as the school is called after Innisfallen Island. I’ve been blessed with the school community down through the years. It was a pleasure to work with school staff and parents, Boards of Management – but the most important is the children. I’m proud of them and their achievements. They are great children and I’ll miss them.”
He said the school will be in great hands as Lisa Ni Iarlaithe, who has been at the school since 1991, takes over as Principal.
He also praised the hardworking staff.
“I’ll miss it but I’m comfortable to step back as the school is in excellent hands.”
Proinsias is originally from Tournafulla Co Limerick. He began his career as a teacher in Scoil Iognáid in the centre of Galway city, the largest Gaelscoil in the country at the time.
Shortly before he died his father Jerry, who loved to holiday for a few days a year in Killarney, had heard of a new school opening here and phoned Proinsias to tell him. The rest they say is history.
He says his love of Irish language was inspired by Tournafulla Primary School Principal Liam O Loineacháin and in St Ita’s College Abbeyfeale by Jim Tierney and the late Johnny Nelligan.
And although three decades is a long time, Proinsias says it flew by and that he has seen many changes over the years. The first is seeing the children of former pupils coming to school. The second is the advancement of technology – some good and some not so good!
“The biggest change was the growth of technology, the changeover to the whiteboard and the use of devices which makes it challenging for parents. It’s wonderful you can access so much, but there are advantages and disadvantages.”
He added a huge thanks to his wife Karen who supported him down through the years when he was out late at meetings, adding that she was “very patient”.
He also thanked Sean O Luanaigh.
“He has been my chairperson since the start and has been such a tremendous support, help and guidance down through the years.”
In retirement he plans to spend more time with his family including his three children Ruadhán, Meadhbh and Cormac.
He also plans to get more involved in Beaufort Tidy Towns as well as the Annals of Innisfallen project.
“It’s always been an interest of mine. I also plan to relax for a few weeks, make more time for family, and I look forward to playing more trad music, bee keeping, gardening and travel.”
News
Start clocking up those ‘Kingdom Kilometres’
With an increase in daylight hours there’s no better time to clock up the ‘Kingdom Kilometres’ on foot or by cycling along the county’s two new Greenways. The recently opened […]

With an increase in daylight hours there’s no better time to clock up the ‘Kingdom Kilometres’ on foot or by cycling along the county’s two new Greenways.
The recently opened Kingdom of Kerry Greenways between Tralee and Fenit and between Listowel and Abbeyfeale are already proving hugely popular with locals and visitors to Kerry.
Representatives of the tourism Industry, local public representatives, travel writers and influencers gathered in Kerry on Monday to experience the exciting new tourist attractions and welcome the arrival of the longer daylight hours as the clocks changed over to summertime.
Sarah Hanrahan, a social media influencer who posts about Irish travel and has more than 100,000 Instagram followers, described the experience.
“Ireland has some of the most amazing outdoor spaces. For a lot of my followers and other people, connecting with green spaces has become much more important to their overall sense of well-being as well as their health and fitness. It’s been really gorgeous to experience the Tralee to Fenit, and Listowel to Limerick Kingdom of Kerry Greenways; a fantastic trip sampling the warm hospitality of Kerry and a great reminder of the active holiday options that are right on our doorstep.”
The new purpose-built trails provide an accessible and inclusive experience for visitors of all abilities.
Mayor of Tralee, Cllr Mikey Sheehy and the Mayor of Listowel, Cllr Aoife Thornton, said that the greenways offer an exceptional recreational amenity for everyone to enjoy.
“The greenways are situated in some of Kerry’s most scenic landscapes and offer spectacular and safe off-road facilities for people of all ages to enjoy as the landscape comes into bloom. They also offer warm hospitality at the trail head towns of each route.”
Visit www.kerrygreenways.ie to find out more.
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