Bear Market Rally or Soft Landing?

It is another beautiful morning in northern San Diego. I have a visitor from Arizona, Cory Berg, who has come to get out of the heat. Cory and I have had a great history of being friends after we experienced a dumpster fire of an investment at Canal Partners. As we walked down the Batiquitos lagoon, we spoke about our past experiences and what are some of our challenges and opportunities going forward. As I have said before, I am in the relationship business. Cory is a phenomenal tech and product leader - you can listen to a podcast I did with him here.

Markets have continued to rally based on better-than-expected earnings results and CPI dating, indicating some restrictions on inflationary pressures. I cannot begin to predict where we are regarding the end of the bear market. It seems to be that the market is still flushed with liquidity, and people are still buying goods and services. I read in a WSJ article the other day that $539B of dry powder needed to be deployed in Venture Capital. That would indicate that maybe we are just back“on trend” with a more realistic view on growth stocks vs. other value names.

One of my favorite weekly reads is Clouded Judgement, where Jamin Ball talks about growth stock and the public markets. You can read his take on the market this week here.