A few months ago I swapped all Northlake client holdings in Discovery Communications voting shares (DISCA) into Discovery Communications non-voting shares. At the time the voting shares were trading at a $4.23 premium to the non-voting shares. Last week, the spread ballooned to almost $7 when it was announced that DISCA would enter the Russell […]
May’s sharp market correction caused a lot of underlying movement in Northlake’s Market Cap and Style models but not enough to change the signals for June. The Market Cap model continues to signal small cap and the Style model remains favoring value. As a result, Northlake client positions dedicated the Core and Explore strategy will […]
https://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2010-06-02 10:34:112010-06-02 10:34:11Lots of Movement for June But Still Favor Small Cap and Value
One of the oddities in specializing in media stocks is that most all of the companies report quarterly earnings within a tight two week window including the last week of the first month of the new quarter and the first week of the second month. This quarter media earnings season overlapped with two trips to […]
The latest signals from Northlake’s Market Cap and Style models once again are unchanged. For May, the Market Cap model still favors small cap and the Style model remains in value mode. Northlake client positions dedicated to the models will remain invested in the Russell 2000 (IWM) for small cap and the Russell 1000 Value […]
https://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2010-05-04 09:53:252010-05-04 09:53:25Another Month at Small Cap and Value on Tap for May
Below are my Twitter comments in chronological order as I was listening to the Apple conference call. I find these initial reaction comments, which for most companies are handwritten notes, are usually my best analysis. Gut reaction plus objective analysis is reliable. Or to put it another way, I like to keep it simple and […]
https://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2010-04-21 08:29:082010-04-21 08:29:08All Good at Apple. Again.
Even before the Goldman Sachs related market meltdown, Google shares were down 5% following the company’s 1Q10 earnings report after the close on Thursday. Most all of the many headline numbers regularly provided by Google met or slightly exceeded expectations. However, the upside was minor and there were a few blemishes. The upside was mainly […]
This column originally appeared on SNL Kagan on March 23rd. With all the headlines about over-the-top video, retransmission fees, and the iPad, one would think the business of TV is about to massively change for the worse. Add in the continued growth of DVR households and it seems like TV as we know it is […]
This article originally appeared on SNL Kagan on April 6, 2010. The two most recent 3-D releases have not lived up expectations set by Avatar and Alice in Wonderland. Theater owners probably don’t care but should studio owners? The North American box office continues to chug along, up over 10.9% according to BoxOfficeMojo.com. Most of […]
https://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2010-04-09 13:13:572010-04-09 13:13:573-D films hit some speed bumps. Is conventional wisdom off target?
There are no changes to Northlake’s Market Cap and Style models for April. The Market Cap model is recommending small cap for the third straight month, while the Style model continues to signal value, as it has since July 2009. Northlake client assets invested with the models continue to own the Russell 2000 (IWM) and […]
https://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2010-04-02 11:29:412010-04-02 11:29:41Small Cap and Value Again in April
On March 1st, all Northlake client positions in Discovery Communications voting shares (DISCA) were swapped to Discovery Communications non-voting shares (DISCK) on a dollar for dollar basis. DISCA shares were added to the S&P 500 as of the close of trading on February 26th. The non-voting DISCK shares are not being added to the S&P. […]
Update on Discovery Communications Spread Trade
A few months ago I swapped all Northlake client holdings in Discovery Communications voting shares (DISCA) into Discovery Communications non-voting shares. At the time the voting shares were trading at a $4.23 premium to the non-voting shares. Last week, the spread ballooned to almost $7 when it was announced that DISCA would enter the Russell […]
Lots of Movement for June But Still Favor Small Cap and Value
May’s sharp market correction caused a lot of underlying movement in Northlake’s Market Cap and Style models but not enough to change the signals for June. The Market Cap model continues to signal small cap and the Style model remains favoring value. As a result, Northlake client positions dedicated the Core and Explore strategy will […]
Media Stocks Ignore Solid Quarterly Earnings
One of the oddities in specializing in media stocks is that most all of the companies report quarterly earnings within a tight two week window including the last week of the first month of the new quarter and the first week of the second month. This quarter media earnings season overlapped with two trips to […]
Another Month at Small Cap and Value on Tap for May
The latest signals from Northlake’s Market Cap and Style models once again are unchanged. For May, the Market Cap model still favors small cap and the Style model remains in value mode. Northlake client positions dedicated to the models will remain invested in the Russell 2000 (IWM) for small cap and the Russell 1000 Value […]
All Good at Apple. Again.
Below are my Twitter comments in chronological order as I was listening to the Apple conference call. I find these initial reaction comments, which for most companies are handwritten notes, are usually my best analysis. Gut reaction plus objective analysis is reliable. Or to put it another way, I like to keep it simple and […]
Google Misses. Sort of.
Even before the Goldman Sachs related market meltdown, Google shares were down 5% following the company’s 1Q10 earnings report after the close on Thursday. Most all of the many headline numbers regularly provided by Google met or slightly exceeded expectations. However, the upside was minor and there were a few blemishes. The upside was mainly […]
U.S. TV Viewers Remain Couch Potatoes
This column originally appeared on SNL Kagan on March 23rd. With all the headlines about over-the-top video, retransmission fees, and the iPad, one would think the business of TV is about to massively change for the worse. Add in the continued growth of DVR households and it seems like TV as we know it is […]
3-D films hit some speed bumps. Is conventional wisdom off target?
This article originally appeared on SNL Kagan on April 6, 2010. The two most recent 3-D releases have not lived up expectations set by Avatar and Alice in Wonderland. Theater owners probably don’t care but should studio owners? The North American box office continues to chug along, up over 10.9% according to BoxOfficeMojo.com. Most of […]
Small Cap and Value Again in April
There are no changes to Northlake’s Market Cap and Style models for April. The Market Cap model is recommending small cap for the third straight month, while the Style model continues to signal value, as it has since July 2009. Northlake client assets invested with the models continue to own the Russell 2000 (IWM) and […]
Swapping Discovery Share Classes
On March 1st, all Northlake client positions in Discovery Communications voting shares (DISCA) were swapped to Discovery Communications non-voting shares (DISCK) on a dollar for dollar basis. DISCA shares were added to the S&P 500 as of the close of trading on February 26th. The non-voting DISCK shares are not being added to the S&P. […]