Time to be Optimistic About US SMID Growth Stocks?
It is fair to say that 2022 was an ‘annus horribilis’ for small and mid-cap growth stocks. There was no respite from a confluence of macro dynamics that spelled pain for long duration cash flows and innovative business models. Whether higher interest rates and persistent inflation warranted the price action we saw in SMID growth stocks is yesterday’s debate, attention now turns to whether the fundamentals of disruptive growth companies can surpass depressed expectations in 2023.
Jim Robillard, CIO and Founder of Spyglass Capital Management, believes that prices for the businesses he owns are divorced from their growth potential. Jim provides a summary of Q4 for the Spyglass portfolio and an outlook for 2023 and beyond in conversation with Kit Sanford of Aravis Capital.
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