As 2006 draws to a close and a new year begins, I thought it would be appropriate to provide a brief update on the positions held in almost all Northlake-managed accounts. Model-Driven ETFs: I’ll get a fresh update on the Market Cap and Style models over the New Year’s weekend but I expect the signals […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2006-12-29 11:49:382006-12-29 11:49:38Positions Recap at The Turn of the Year
In hindsight, it appears that some of December’s weakenss in Apple shares (down about 10% prior to today’s open) was due to speculation about developments in the options back dating scandal. It is likely that prior to the publication of articles in Law.com and the Financial Times some investors may have gotten wind of the […]
McClatchy (MNI) announced it was selling the Minneapolis Star Tribune to a private equity outfit for $530 million. MNI will also receive a $160 million tax benefit on the sale. The Star Tribune is the 14th largest daily newspaper in the country by circulation. MNI is selling the paper as the final major step in […]
The point of my post about the Forrester report on Apple’s iTunes sales was not really to discuss AAPL. Instead, I was trying to point out how the type of analysis can impact the conclusions drawn. In other words, good inputs lead to useful outputs and vice versa. When I posted this piece on StreetInsight.com, […]
Leaving aside the debate concerning why Apple Computer (AAPL) shares have been acting so poorly and whether it is deserved, I think it is fair to say that the Forrester report that said iTunes sales were plummeting was the start of the severe downward pressure. As you might recall, the Forrester report generated a huge […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2006-12-26 14:24:432006-12-26 14:24:43iTunes Sales Are Not Collapsing
There is no doubt that flood of money into private equity funds and the subsequent investment of these funds in buyouts of public corporations has contributed greatly to the 2006 bull market. Conventional wisdom is that private equity buyouts of public companies will continue at its recent pace, providing support to current public equity valuations […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2006-12-22 14:01:162006-12-22 14:01:16Could The Market Be Too Bullish Regarding The Impact of Private Equity?
I don’t want to pick a fight with Jim Cramer and Doug Kass, my fellow contributors at theStreet.com’s family of websites, but they are exaggerating the issues in DVD sales. The Pali report is correct in noting that consumer interest in DVDs is waning as evidenced by flat sales despite a huge increase in DVD […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2006-12-22 13:57:292006-12-22 13:57:29How Bad Are DVD Sales?
Endeavor Acquisition Corporation (EDA) submitted an SEC filing yesterday with lots of details about its acquisition of American Apparel. Most importantly, the company provided historical and projected revenue and EBITDA figures. The data is better than I expected, particularly for 2007 and 2008, giving me greater faith in my buy recommendation and leading to more […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2006-12-21 08:05:252006-12-21 08:05:25Details in Endeavor’s SEC Filing Support Bull Case
Following the news that American Apparel is being purchased by Endeavor Acquisition Corp. (EDA), I decided to take a small position in EDA for client accounts. EDA is a blank-check company that went public about one year ago by raising $130 million. Blank check companies go public and then look to make acquisitions. For EDA, […]
Bernstein Research was out yesterday with a really interesting piece of research noting the dichotomy between the poor ratings performance of the major broadcast television networks this season and the better than expected scatter advertising market. Scatter is jargon for TV ads purchased on the spot market as opposed to pre-bought last spring in the […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2006-12-15 14:59:432006-12-15 14:59:43Why Are Network TV Ads Selling Well When Ratings Are Poor?
Positions Recap at The Turn of the Year
As 2006 draws to a close and a new year begins, I thought it would be appropriate to provide a brief update on the positions held in almost all Northlake-managed accounts. Model-Driven ETFs: I’ll get a fresh update on the Market Cap and Style models over the New Year’s weekend but I expect the signals […]
Apple Files 10-Q With Options Update
In hindsight, it appears that some of December’s weakenss in Apple shares (down about 10% prior to today’s open) was due to speculation about developments in the options back dating scandal. It is likely that prior to the publication of articles in Law.com and the Financial Times some investors may have gotten wind of the […]
McClatchy Sells Minneapolis Newspaper for Peanuts
McClatchy (MNI) announced it was selling the Minneapolis Star Tribune to a private equity outfit for $530 million. MNI will also receive a $160 million tax benefit on the sale. The Star Tribune is the 14th largest daily newspaper in the country by circulation. MNI is selling the paper as the final major step in […]
Apple Shares Remain Unusually Weak
The point of my post about the Forrester report on Apple’s iTunes sales was not really to discuss AAPL. Instead, I was trying to point out how the type of analysis can impact the conclusions drawn. In other words, good inputs lead to useful outputs and vice versa. When I posted this piece on StreetInsight.com, […]
iTunes Sales Are Not Collapsing
Leaving aside the debate concerning why Apple Computer (AAPL) shares have been acting so poorly and whether it is deserved, I think it is fair to say that the Forrester report that said iTunes sales were plummeting was the start of the severe downward pressure. As you might recall, the Forrester report generated a huge […]
Could The Market Be Too Bullish Regarding The Impact of Private Equity?
There is no doubt that flood of money into private equity funds and the subsequent investment of these funds in buyouts of public corporations has contributed greatly to the 2006 bull market. Conventional wisdom is that private equity buyouts of public companies will continue at its recent pace, providing support to current public equity valuations […]
How Bad Are DVD Sales?
I don’t want to pick a fight with Jim Cramer and Doug Kass, my fellow contributors at theStreet.com’s family of websites, but they are exaggerating the issues in DVD sales. The Pali report is correct in noting that consumer interest in DVDs is waning as evidenced by flat sales despite a huge increase in DVD […]
Details in Endeavor’s SEC Filing Support Bull Case
Endeavor Acquisition Corporation (EDA) submitted an SEC filing yesterday with lots of details about its acquisition of American Apparel. Most importantly, the company provided historical and projected revenue and EBITDA figures. The data is better than I expected, particularly for 2007 and 2008, giving me greater faith in my buy recommendation and leading to more […]
Endeavor Aquisition Buys American Apparel and Northlake Buys Endeavour
Following the news that American Apparel is being purchased by Endeavor Acquisition Corp. (EDA), I decided to take a small position in EDA for client accounts. EDA is a blank-check company that went public about one year ago by raising $130 million. Blank check companies go public and then look to make acquisitions. For EDA, […]
Why Are Network TV Ads Selling Well When Ratings Are Poor?
Bernstein Research was out yesterday with a really interesting piece of research noting the dichotomy between the poor ratings performance of the major broadcast television networks this season and the better than expected scatter advertising market. Scatter is jargon for TV ads purchased on the spot market as opposed to pre-bought last spring in the […]