Just a retired guy who has been investing in the market for the past 45 years. I've seen lots of ups and downs. No tree grows to the sky, and some good stocks (think Kodak) eventually become worthless. I am dismayed that man of today's investors spend so much time looking at supposed forward earnings while making excuses why the same stock hasn't made projections for a significant period of time. Past performance really does mean a lot more than what some (mostly biased) analysts think a stock might earn next quarter or next year. Start looking at performance over the past 5-10 years. Any stock is much more likely to continue that pattern than break out to some mythical upside. Take a look at the history of HSY as just one example. Sometimes, the most boring, least sexy stocks are the ones that make you the most money.
Steve Birenberg is founder and President of Northlake Capital Management, LLC. Northlake specializes in managing portfolios for high net worth individuals using a unique strategy combining monthly ETF rotation based on major market themes supplemented by carefully selected media and telecom stocks. Steve has been managing money since 1982 and following media and telecom since 1990. For the past five years, Steve has been a contributor to RealMoney.com, the professional service of theStreet.com, where he provides commentary on media and telecom stocks. Steve is author of "Dow of Steve" for subscribers of SNL Kagan. Dow of Steve provides commentary on media and communications news from a Wall Street perspective. Steve earned his CFA in 1986 and taught at the Study Seminar for Financial Analyst from 1986 through 1992. Steve grew up in Rochester, NY and graduated from Miami of Ohio in 1982 with a Bachelor of Science in Business Administration.