Last week, Punxsutawney Phil saw his shadow, so it looks like 6 more weeks of winter. (If only forecasting the U.S. Federal Reserve was as easy as seeing our shadows!) The market has made some positive headway as of late, which was a much-welcomed reprieve from last year’s market performance. Although there were many reasons for the movement we saw in the market last year, it was mostly driven by rising interest rates and the Fed's reduction of its balance sheet.
So, what does the Purus Investment Committee see going forward? While there are signs of the economy slowing, we are in the camp that this may be a softer landing (milder recession) than some have predicted. A softer landing should help to temper volatility. If this turns out not to be the case, we suspect we will see some earnings pressure along with increased volatility surrounding equities.
In January, Purus celebrated its 8th anniversary. Our entire team wants to thank our wonderful clients and community for their support, trust, and friendship.
Purus Wealth Management
The Purus Investment Committee feels there has been an important shift in the benefits of Purchased Money Funds. The silver lining to the increase in interest rates is that Purchased Money Funds and Money Markets are starting to make a lot more sense to own. As interest rates have increased, our Purchased Money Fund has gone from paying nearly nothing to ~4%+. In comparison, the big banks have not made the same increase to their savings account interest rates. If you have money in your checking or savings account that you would like to earn this type of interest, please reach out. We would love to put together a Cash Investment Plan that makes sense for your goals and objectives.
Capital Group
"Retirement legislation signed into law, the Secure 2.0 Act of 2022 builds on the improvements made by the Setting Every Community Up for Retirement Enhancement Act (SECURE Act) of 2019." READ MORE
Capital Group 2023 Outlook
March 1st, 2023 at 4pm pst
Join us for an interactive educational webinar in partnership with the Schwab Charitable Giving team. We will be covering the importance and benefits of philanthropic investing. Keep an eye out for the invite and RSVP.
Waymakers
Waymakers, the Orange County nonprofit that helps people in crisis and conflict, celebrated its 50 years of life-changing service in Orange County!
Learn more about Waymakers and their mission.
Purus Wealth Management is actively involved in this important nonprofit organization. Mark and Bonnie Larsen, Purus Founding Principals, recently had the privilege of being a part of the Waymakers’ 50th anniversary reception on January 20, 2023. During this impactful event, there were many heartfelt stories of hope & life-changing success within the Waymakers’ program, as well as presentations of thanks given by several local Orange County dignitaries.
The first picture below is our team celebrating our one year anniversary in Laguna Beach. Check out how much we've grown, all thanks to your support.
The second is our 2022 Holiday card. Check out how much we've grown, all thanks to your support.
via Hannah Morreale, Operations Specialist & Digital Concierge
If you have any questions about this month’s topic, reach out to our cyber security team.