July 2, 2024

Purus Perspective: July 2024

Over the past month, large cap growth investments have continued their upward movement while some of the other sectors have begun to slow - and that may not be a bad thing. Investors have enjoyed most sectors being in positive, high, single, and double-digit return territory this year. Each week, as our Investment Committee talks about what we see and hear, we vacillate between appreciation that the market is doing well and wishing it would take a breath. We believe a slight slowdown to the growth we have seen year-to-date is ultimately healthy for the market. A minor pullback would allow valuations to come down and create some opportunity to buy into investments for which we have high conviction in the long term.

Last week, the country tuned in for the first Presidential Debate. Little progress was made, but we will continue tuning in to see what the nominees have to say. Then, on Friday, the inflation report, an important economic measure for the Federal Reserve, showed that during May inflation had slowed to its lowest annual rate in more than three years.

In this week’s First Trust article, they highlight the words of Ronald Reagan, an inspiring 3.5 Second Miracle to say the least. We hope everyone has a safe and Happy 4th of July with family and friends.

Expansion on Broadway

J.P. Morgan
"The play, 'Steadily She Goes', from a dramatic perspective, turned out to be a dud.

It started with such a promising prologue of pandemic, recession, recover, political upheaval, war and inflation. However, it has since settled into a drawn-out, repetitious script, wherein the lead actor, consumption, hogs the center stage and the supporting cast, in the form of investment spending, government spending and trade, has very little impact on the plot."

Risks and Exposure

J.P. Morgan, Dr. David Kelly - Chief Global Strategist
"After almost every speech, someone asks me about risks - what keeps me up at night. And today, with a soft-landing economy and the stock market near record highs, it does seem like a good time to review risk. But it's important to recognize the most obvious point about market risk."

U.S. Election Year: Prioritize Trends Over Politics

Janus Henderson
"Despite typical investor anxiety around presidential elections, history shows equities can still generate positive returns in election years.

This year, broader market drivers - including rates trajectory, economic growth, inflation, and corporate profits - are likely to shape the investment landscape to November, but we're mindful that rhetoric on a potential contested election could cause uncertainty, and therefore volatility."

Waymaker's 40th Annual Swing For the Kids

Orange County Business Journal
"Irvine, Calif. (June 7, 2024) – Waymakers, a nonprofit organization that builds safer communities by helping individuals make their way through conflict and crisis to a place of strength and stability, hosted its annual Swing For Kids Charity Golf Tournament presented by Purus Wealth Management and raised $195,000 on May 16 at Oak Creek Golf Club in Irvine. This year’s tournament was attended by 144 golf enthusiasts coming together to raise vital funds for life changing services in Orange County.

'We are thrilled to be the presenting sponsor for Waymakers Swing for Kids Golf Tournament," said Mark Larsen, CEO of Purus Wealth Management. "The dedication and passion of everyone involved—sponsors, participants, and volunteers—are truly inspiring. This event is a powerful testament to what we can achieve together, and we are proud to support Waymaker's in their mission to build safer communities and provide crucial support to those in need.'"  

Cybersecurity Quick Check

via Hannah Morreale, Operations Specialist & Digital Concierge

If you have any questions about this month’s topic, reach out to our cybersecurity team.