The market staged a big rally on Tuesday that looked quite similar to the one-day wonder on October 13th. Both rallies started from almost the same levels on the major averages. If we can hang onto to Tuesday’s gains, you will see lots of commentary about a successful retest of the October 10th lows. While […]
I am heading to NY Thursday morning to attend CETV’s annual analyst meeting which convenes at noon. CETV has long been my favorite stock (since 2001) offering a combination of growth, value, and superb management. However, over the last four months the stock has been an absolute disaster. First, investors lost confidence in advertising growth […]
As I leave the office after the Apple call wraps up on Tuesday night, the stock is trading at $102, up a little over $10 from the NY close, regaining more than the $7 loss during regular hours. I posted the big news on the call while it was still going on (immediately below). Steve […]
He’s alive. He sounds vibrant. Very upbeat on iPhone and notebooks. Discussing economy which he says is impossible to predict but company positioning provides some insulation. Very confusing numbers because of subscription accounting. This could be impacting GAAP guidance based on a revenue per iPhone calculation. Jobs mentions possibility of using cash on acquisitions. $25 […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2008-10-21 16:35:302008-10-21 16:35:30Big News on Apple Call: Jobs Makes Rare Appearance
Apple reports its September quarter earnings tonight after the market closes. However, the key to the stock price will be the December quarter guidance. Given that Apple guides below consensus most of the time, I think anything close to consensus of $10.57 billion in revenue and $1.65 in EPS will be well received. Obviously, the […]
Several times last week I started typing a market comment but each time events were moving so fast that my thoughts felt dated before I was done. Now that the weekend has given everyone a chance to breathe, I wanted to offer a few thoughts even though I worry that when Asia opens on Sunday […]
For the first time since June 2007, Northlake’s Style model is flashing a value signal. The new signal breaks a 15 month run of growth signals. As a result of the new signal, I sold all client positions in the Russell 1000 Growth ETF (IWF) and purchased dollar-for-dollar in the Russell 1000 Value ETF (IWD). […]
Nice rally today. It didn’t get much commentary in the financial press but all day I was telling contacts that the infrastructure of Wall Street benefited from a big up day because it was quarter end. While I am not a conspiracy theorist I suspect that played a role in the rally. Another thing I […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2008-09-30 16:42:052008-09-30 16:42:05Down 777, Up 485: Another Special Market Comment
After many months of monitoring and researching, I finally got long Discovery Communications in Northlake client accounts on Friday. The shares are temporarily trading under the tickers DISAD (voting) and DISCK (non-voting). In twenty days DISAD will revert to DISCA. There is also an illiquid class of super voting DISCB shares. New DISAD/DISCA shares no […]
The activity in the financial markets and on the regulatory front is absolutely amazing. I’ve been managing money since 1982 when the Dow was well below 1,000, and I have never seen anything like this, not even the 1987 crash. My operating thesis this week was that we had reached a turning point in the […]
Latest Market Comment
The market staged a big rally on Tuesday that looked quite similar to the one-day wonder on October 13th. Both rallies started from almost the same levels on the major averages. If we can hang onto to Tuesday’s gains, you will see lots of commentary about a successful retest of the October 10th lows. While […]
CETV Analyst Meeting Convenes Amid Stock’s Carnage
I am heading to NY Thursday morning to attend CETV’s annual analyst meeting which convenes at noon. CETV has long been my favorite stock (since 2001) offering a combination of growth, value, and superb management. However, over the last four months the stock has been an absolute disaster. First, investors lost confidence in advertising growth […]
More Comments on Apple’s Earnings
As I leave the office after the Apple call wraps up on Tuesday night, the stock is trading at $102, up a little over $10 from the NY close, regaining more than the $7 loss during regular hours. I posted the big news on the call while it was still going on (immediately below). Steve […]
Big News on Apple Call: Jobs Makes Rare Appearance
He’s alive. He sounds vibrant. Very upbeat on iPhone and notebooks. Discussing economy which he says is impossible to predict but company positioning provides some insulation. Very confusing numbers because of subscription accounting. This could be impacting GAAP guidance based on a revenue per iPhone calculation. Jobs mentions possibility of using cash on acquisitions. $25 […]
Bar Lower for Apple’s Quarterly Earnings
Apple reports its September quarter earnings tonight after the market closes. However, the key to the stock price will be the December quarter guidance. Given that Apple guides below consensus most of the time, I think anything close to consensus of $10.57 billion in revenue and $1.65 in EPS will be well received. Obviously, the […]
Special Market Comment: October 12, 2008
Several times last week I started typing a market comment but each time events were moving so fast that my thoughts felt dated before I was done. Now that the weekend has given everyone a chance to breathe, I wanted to offer a few thoughts even though I worry that when Asia opens on Sunday […]
October 2008 Model Signals
For the first time since June 2007, Northlake’s Style model is flashing a value signal. The new signal breaks a 15 month run of growth signals. As a result of the new signal, I sold all client positions in the Russell 1000 Growth ETF (IWF) and purchased dollar-for-dollar in the Russell 1000 Value ETF (IWD). […]
Down 777, Up 485: Another Special Market Comment
Nice rally today. It didn’t get much commentary in the financial press but all day I was telling contacts that the infrastructure of Wall Street benefited from a big up day because it was quarter end. While I am not a conspiracy theorist I suspect that played a role in the rally. Another thing I […]
New Buy: Discovery Communications
After many months of monitoring and researching, I finally got long Discovery Communications in Northlake client accounts on Friday. The shares are temporarily trading under the tickers DISAD (voting) and DISCK (non-voting). In twenty days DISAD will revert to DISCA. There is also an illiquid class of super voting DISCB shares. New DISAD/DISCA shares no […]
Another Market Update and Schwab’s Safety
The activity in the financial markets and on the regulatory front is absolutely amazing. I’ve been managing money since 1982 when the Dow was well below 1,000, and I have never seen anything like this, not even the 1987 crash. My operating thesis this week was that we had reached a turning point in the […]