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Is the correction over?




It's been a tough month for investors. After a blissful 18 months, the 'markets can only go up' narrative seems to be wearing thin.

Despite a late surge on the last day of the month, the S&P 500 wrapped up its worst month since March 2020, with the tech-heavy Nasdaq narrowly avoiding its worst-ever start to the year.

The Nasdaq is now very much in correction territory, down 12% in 2022, with the S&P 500 down 7.0%.

If you dig a little deeper, the true extent of the volatility becomes more apparent. One in three companies in the Russell 3000 Index (Index of the entire US public stock market) has fallen more than 40% from their 52-week highs. An ode to index investing and a stark reminder that stock picking is hard.

Death to Social Media

Shares in Facebook plummeted as much as 22% following a less than convincing earnings report that saw Meta record their first-ever fall in global daily active users (DAUs).

The daily loss of $230 billion was the largest one-day loss in the history of Wall Street and sent ripples through markets. It wasn't just Facebook suffering; social media contagion saw other players decimated, with Snap, Twitter and Pinterest recording significant losses.

Snap plunged by over 20% following Facebook's earnings call, but reported their first-ever profitable quarter later that evening to send its stock soaring by as much as 62% at one point! This crazy two-day price fluctuation should function as a cautionary tale for investors.

These short-term price movements are rarely logical, typically over-reactive to the extreme and impossible to decipher in real-time.

Don't Look

For most, last week's volatility should function as a reminder that you are not doing yourself any favours by watching the play-by-play if you're not a full-time trader.

Ultimately if you have a longer-term time horizon, you're adding undue stress and anxiety by over-analysing each tick higher or lower.

So here is your timely reminder to stop checking prices. Log out of your brokerage App. Remind yourself why you invested in the first place instead of fixating on the daily price movements.

Nothing New Here

Remember, stock market losses are a regular occurrence. Since 1950, the S&P 500 has had an average drawdown of 13.6% over a calendar year. And yet, markets have continued to grind higher over time.

The volatility you get from stocks is the prices you pay for the high returns they offer. It's not free.


Predicted increases to the FED Funds rate have led to much of the recent sell-off. In my opinion, these rate hikes are priced into markets, and much of the correction has been completed.

With that said, volatility is here to stay with geopolitical tensions in Russia, inflation uncertainty and the tapering of economic stimulus at the forefront of investor sentiment.

It is unlikely to be as easy as it has been with valuations stretched in places, but it is hard to get overly negative with fundamental trends so solid.

Earnings remain strong, valuation metrics are contracting, GDP is at an all-time high and continues to grow, company margins are improving, and consumer demand is now above pre-pandemic levels.

The game isn't over. It all just gets a little harder from here.



Muckross Rowing Club members on Irish teams for two major regattas

  Six members of Muckross Rowing Club will compete for Ireland in two upcoming international events. Rowing Ireland this week announced the Irish squads for the Coupe de la Jeunesse […]





Six members of Muckross Rowing Club will compete for Ireland in two upcoming international events.

Rowing Ireland this week announced the Irish squads for the Coupe de la Jeunesse Regatta.

Daniel Fleming and Ian Coffey have both been selected for the Under 19 Irish squad to race at the Coupe de la Jeunesse Regatta for European junior rowers. The Coupe de la Jeunesse Regatta, involving 16 European countries, will be held over from over three days, August 9-11 in Racice, Czechia.

Four Under 23 university rowers from the Muckross club have also been selected as part of the Senior Irish squad for the Home International Regatta this month.

Niamh Coffey (University of Limerick), Patrick Buckley (University of Limerick), Finn O’Sullivan (University of Limerick) and Ethan O’Neill (University College Cork Rowing Club) will take on the ‘Triple Crown’ event of rowing, competing for Ireland against crews from England, Scotland and Wales.

The Home International Regatta will be held on Saturday, July 27 in Strathclyde, Scotland.

All six Muckross rowers have earned their green jerseys following a lengthy and testing trial series on land and water which began in Autumn 2023 and culminated in final water trials at the end of June.

“Muckross Rowing Club sends its best wishes to the very talented Muckross oarsmen and women and all their crewmates as they fly the flag for Ireland this summer. The talented group build on a successful record in the sport,” said club PRO Tim O’Shea.

Niamh Coffey is a multiple Irish and University Championship winner and has previously represented Ireland in the Under 23 European Championships.

In 2022, O’Neill rowed at Junior level at the Home International event and won a gold medal as part of the Irish quadruple scull crew in the 500m sprint event.

Both Buckley and O’Sullivan continue to compete at the highest level nationally with the University of Limerick Rowing Club,  and join the Irish squad for the first time this year.

The international selections come at an exciting time before the Olympic Regatta in Paris, where Zoe Hyde (Tralee Rowing Club) will be among the largest Irish rowing contingent of 16 rowers to contest an Olympic Games.

Killorglin native Zoe has previously rowed for both Killorglin and Muckross rowing clubs and will race the Women’s Double event for Ireland with Alison Bergin (Fermoy Rowing Club) in Paris.


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Valuable role of Kerry cancer support charity recognised nationally



Cancer support charity Recovery Haven Kerry has been recognised for its vital role in supporting cancer patients and their families at a national ceremony in Dublin.

The renowned cancer support house was one of 16 such centres across Ireland that were presented with plaques to acknowledge their full membership of the National Cancer Control Programme (NCCP) Alliance – a group made up of voluntary and charity organisations delivering support services directly to cancer patients and their families. An additional 10 associate member charities were also honoured, including Kerry Cancer Support Group.

The Alliance advocates for, and supports, the development of integrated pathways between the cancer centres, acute hospitals, community cancer support services and primary care services. All members’ development is in line with the values of Sláintecare, seeking to provide assurance to healthcare professionals that these organisations are working to an agreed standard as set out in Best Practice Guidance published by the NCCP. 

Speaking after the ceremony, which was held at Dublin’s Farmleigh Estate, Recovery Haven Kerry Chairman, Tim McSwiney, explained that being compliant with the Best Practice Guidance for Community Cancer Support Centres is a true mark of quality. 

“It offers us a yardstick to measure what we are doing against the standards required. As a result, healthcare professionals have more confidence in referring people to our services. We are very proud to be a member of the Alliance,” he said.

Recovery Haven Kerry was represented at the event by centre manager, Gemma Fort and Client Services Co-Ordinator, Siobhan MacSweeney and were presented with their plaque by NCCP Lead for Cancer Survivorship, Louise Mullen, Clinical Lead for Psycho-Oncology Dr Helen Greally, and Minister of State at the Department of Health, Colm Burke. 

The event was also used as an opportunity to announce funding of €3m for the NCCP’s Alliance of Community Cancer Support Centres and Services through Budget 2024. The NCCP is currently in the process of distributing these funds which will directly and positively impact the delivery of services for patients and families nationally.

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