There were no changes to Northlake’s Market Cap and Style models for May. The Market Cap model continues to flash an extremely strong signal favoring large caps. The Style model continues to flash a weak signal in favor of value. As a reminder, these models are designed to predict relative performance and have minimal predictive […]
For the second consecutive month there were no changes to Northlake’s Market Cap and Style models. The signals are still flashing large cap and value. As a result, in the portion of the portfolios Northlake manages that are dedicated to the ETF rotation strategy, I continue to own the S&P 500 (SPY) and the Russell […]
There were no changes to Northlake’s Market Cap or Style models for March. The signals remain Large Cap and Value. As a result in the portion of client portfolios dedicated to Northlake’s ETF rotation strategy (generally ranging from 40% to 80% of equity portfolio value depending on account characteristics), I continue to own the S&P […]
Both of the models in Northlake’s ETF rotation strategy sent new signals for February. The market Cap model shifted from Mid Cap to Large Cap and the Style model shifted from Growth to Value. As a result of these changes, I swapped client positions in the S&P 400 Mid Cap (MDY) for the S&P 500 […]
It’s a new year but there were no changes to Northlake’s Market Cap and Style model signals for January. The Market Cap Model continues to favor mid caps and the Style model remains firmly in the growth camp. Within my personal and Northlake client accounts, I am implementing the Market Cap signal by holding equal […]
My attendance at the UBS Media Conference led to the delay in getting the latest model signals up on the website. Fortunately, the models did not signal change for this month. Here is some detailed commentary: There were no changes to the signals from Northlake’s Market Cap and Style models for December. The Market Cap […]
Both Northlake’s Market Cap and Style models sent new signals for November. The Market Cap model moved from large cap to mid cap and the Style Model went back to growth from value. The mid cap signal is fairly weak, while the growth signal is moderately strong. As a result of the new signal, I […]
The weak growth signal given by Northlake’s Style model for September turned into a weak value signal for October. As a result, I swapped all client holdings of the Russell 1000 Growth (IWF) into the Russell 1000 Value (IWD) at the open yesterday. The one month swap from IWD to IWF for September turned out […]
Last week on Real Money, there was a debate on the growth vs. value question. It began when my colleague, Ed Stavetski asked, “As the economy slows and earnings growth tails off, does one want to own value or growth?” Ed asked the question after reviewing year-to-date returns for the Russell growth and value indices […]
After seven months signaling value, Northlake’s Style model shifted to growth for September. There were no changes in any of the underlying factors this month. Rather, the two month rolling average calculation shifted to growth when June’s value bias was dropped and August data confirmed the shift to growth first picked up in July. As […]
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tim@northlakecapital.com
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