Steven Birenberg

Steven Birenberg is president of Northlake Capital Management, an SEC-registered investment advisor specializing in managed equity portfolios for high net worth individuals utilizing a unique strategy combining index ETFs and media and communications stocks. Birenberg is also co-owner and co-portfolio manager of the Entermedia Funds. The Entermedia funds are long/short equity hedge funds focused on media, entertainment, communications, and related technologies. Steve has been managing portfolios for clients since 1982. In addition to his money management career, Steve has been writing about media and communications for a variety of public websites since 2004, including theStreet.com, RealMoney.com, and Minyanville.com. Steve also writes a weekly column for SNL Kagan, the leading independent source of news and analysis for Media and Communications. Steve maintains two blogs for his clients at www.northlakecapital.com/mediatalk and www.entermediagrowth.com.

Steve’s latest columns:

• 10:48am Friday, January 20, 2012: Google in the Penalty Box. For Now. - Wall Street All-Stars» Steven Birenberg
  Two minute minor, five minute major, ten minute misconduct, or game misconduct? I’m thinking ten minute misconduct. The quarter is not nearly as bad as the stock would suggest. Revenues were light but operating income, EBITDA, and free cash flow were in line with expectations. Operating margins, a big issue over the past year, were [...]
• 2:42pm Thursday, January 19, 2012: Locking in Profit on LYV and AMCX - Wall Street All-Stars» Steven Birenberg
  Today I sold half of AMC Networks (AMCX). Several months ago I wrote a positive column on AMCX but unfortunately I can’t find the link. The stock is up strongly today with a lot cable network stocks. When it was trading in the low $30s, I thought it could reach $40-42. It is there so [...]
• 12:21pm Thursday, January 5, 2012: New Year, New Trades, New Strategies - Wall Street All-Stars» Steven Birenberg
  The year in my hedge fund began with several trades to alter the hedging strategy. In 2011, correlations among individual stocks were at all-time highs. This led me to rely primarily on index exchange traded funds for hedging the long portfolio. Recent persistent strength in U.S. economic data and modest progress toward solving the European [...]
• 12:16pm Friday, December 23, 2011: Yahoo Cash Rich Spin Offers Lots of Upside - Wall Street All-Stars» Steven Birenberg
  Can you trust Yahoo’s Board to do the right thing? I don’t know but assuming Yahoo (YHOO) approves a deal similar in structure to the rumored cash-rich spin of its Asian assets, I believe the shares have substantial upside, north of $20 at least, maybe upper $20s or even $30. That is enough upside along [...]
• 3:55pm Wednesday, December 21, 2011: Merry Christmas, Yahoo Longs! - Wall Street All-Stars» Steven Birenberg
  New York Times Dealbook is reporting Yahoo’s Board is set to vote on a cash rich spin of its Asian assets. This has always been the ideal scenario in my book. In fact, I’ve often wondered to myself why John Malone was not trying to steal Yahoo and then do a cash rich spin as [...]

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