Penobscot Investment Management
Penobscot Investment Management

News

Quarterly newsletters and announcements

First Quarter, FY2019 newsletter

At Penobscot we take the long view when it comes to the stock market, and the first quarter of 2019 was a good reminder of the importance of a long-term focus. After the steep selloff last quarter left us with negative returns for the first year since 2008, this quarter was the strongest since 2009. The S&P finished almost 14% higher while the Nasdaq climbed over 16%

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colleen barry
Fourth Quarter, FY2018 newsletter

The S&P 500 lost momentum in the final weeks of 2018 preventing what was developing into another record-breaking year.  Instead, markets recorded the first year of negative returns since 2008. Since February, market sentiment seemed to reflect indifference to adverse news, especially in the context of lower corporate tax rates.

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colleen barry
Third Quarter, FY2018 newsletter

On August 22nd the U.S. marked the longest growth streak in history. In the third quarter ending September 30, the S&P 500 Index had its biggest quarterly advance since the fourth quarter of 2013, soaring 7.7%. The Dow Jones Industrial Average was up more than 2,100 points or 9.6%.

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Second Quarter, FY2018 newsletter

In the quarter that ended on June 30, the stock market exhibited a classic see-saw pattern, as investors reacted positively and negatively to the news from both Washington and abroad. The delivery of news was omnipresent, with tweets from the President as early as 4am on many mornings.

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