Callaway Golf

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Callaway Golf ( ELY) is a former fad stock of the 1990s when its Big Bertha driver hit the market and was a favorite of every Wall Streeter on the golf course (and in the analyst room). However, the company's fortunes have been well below par for many years. Golf equipment companies such as Nike's ( NKE), Mizuno, Cobra and TaylorMade have been able to develop equally excellent products in the last 15 years. Tiger Woods, before he got into his personal problems, had a long-term endorsement deal with Nike.

While golf is still a very active sport across the world, country clubs have been hit hard ever since the financial crisis took place and are struggling to maintain membership. Callaway Golf's revenues have been flat to lower for years and EPS has been negative since 2009. Even if the company posts the modest 18 cent profit that analysts expect in 2012, I do not think that the company is a worthy investment.

-- Written by Scott Rothbort in Millburn, N.J.

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At the time of publication, Rothbort was long ED stock and AAPL stock and calls, although positions can change at any time.

Scott Rothbort has over 25 years of experience in the financial services industry. He is the Founder and President of LakeView Asset Management, a registered investment advisor specializing in customized separate account management for high net worth individuals. In addition, he is the founder of TheFinanceProfessor.com, an educational social networking site; and, publisher of The LakeView Restaurant & Food Chain Report. Rothbort is also a Term Professor of Finance at Seton Hall University's Stillman School of Business, where he teaches courses in finance and economics. He is the Chief Market Strategist for The Stillman School of Business and the co-supervisor of the Center for Securities Trading and Analysis.

Mr. Rothbort is a regular contributor to TheStreet.com's RealMoney Silver website and has frequently appeared as a professional guest on Bloomberg Radio, Bloomberg Television, Fox Business Network, CNBC Television, TheStreet.com TV and local television. As an expert in the field of derivatives and exchange-traded funds (ETFs), he frequently speaks at industry conferences. He is an ETF advisory board member for the Information Management Network, a global organizer of institutional finance and investment conferences. In addition, he is widely quoted in interviews in the printed press and on the internet.

Mr. Rothbort founded LakeView Asset Management in 2002. Prior to that, since 1991, he worked at Merrill Lynch, where he held a wide variety of senior-level management positions, including Business Director for the Global Equity Derivative Department, Global Director for Equity Swaps Trading and Risk Management, and Director for secured funding and collateral management for the Global Capital Markets Group and Corporate Treasury. Prior to working at Merrill Lynch, within the financial services industry, he worked for County Nat West Securities and Morgan Stanley, where he had international assignments in Tokyo, Hong Kong and London. He began his career working at Price Waterhouse from 1982 to 1984.

Mr. Rothbort received an M.B.A., majoring in Finance and International Business from the Stern School of Business, New York University, in 1992, and a B.Sc. in Economics, majoring in Accounting, from the Wharton School of Business, University of Pennsylvania, in 1982. He is also a graduate of the prestigious Stuyvesant High School in New York City. Mr. Rothbort is married to Layni Horowitz Rothbort, a real estate attorney, and together they have five children.

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