You may very well be right that the world economy is entering in to troubled times, and that increasing interest rates and lower economic growth would by and large be a significant headwind for consumer discretionary. But as @sime and others have noted, is that the market Lark is addressing?
Good quality and high growth companies will out grow the macro headwinds. I would be much more concerned if I had invested in a mature business targeting the premium end of the market. Take a look at Louis Vuitton (down 30%, PE=25), Estee Lauder (down 40%, PE=28), or Pernod Ricard (down 15%, PE=28). All of them are targeting premium markets at such a scale that they may be more significantly impacted, and were massively over valued coming into this bear market. To my mind, they're still terrible investments.
Lark, however, has net assets to justify its valuation, and will be able to outgrow the short term pains of a potential recession. The issue for Lark investments is more internal than macro - like, who's going to be the CEO, and how are they going to expand their distribution channels?
LRK Price at posting:
$2.82 Sentiment: Buy Disclosure: Held
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