The year of 2016 saw a strong performance from Energy, Financial, Material, Industrial, and Telecom stocks. A recovery in commodity prices and hopes for business growth given the new administration boosted the stocks in these sectors. Health Care was the only sector to decline, due primarily to political rhetoric regarding high drug costs and Obamacare uncertainties. No YTD performance is shown for Real Estate, which was recently created as a standalone S&P 500 sector. It was previously a part of Financials.
The research team at Griffin Portfolio Management Corp. remains focused on high Return on Equity (ROE) companies. We expect businesses that are led by exceptional management teams with proven track records to perform well in the long-run. We screen for those which are most attractively valued and capable of delivering rewarding long-term growth in revenue, earnings, dividends, and ultimately, stock prices over time. GPM maintains a list of over 50 GPM Grade Companies that we would purchase at the right price.
2016 performance of the S&P Sectors thru 12/31/16 (not including dividends):
Griffin Portfolio Management Corp. of Farmington Hills, Michigan is an investment advisor that manages individual portfolios of individual companies for discriminating clients. All GPM accounts are separately managed with exceptional transparency.
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