I don't know if you tried to - if you look lately, the mortgage rates are a lot higher. We're in an environment where raising new capital is very expensive and punitive, right? But zombie stocks were - are stocks that we believe will go to zero, because they're running out of money. So these were already bad stocks, bad businesses. Almost all of our zombie stocks came from our danger zone stock list. So it's, first of all, very limited runway, very limited prospects.

And then we've seen companies have to raise more capital or cut staff, cut spending drastically. A lot of times, it's just a couple of months, a few months. So they have so little cash that they're not going to be able to support their current cash burn rate for more than 24 months. The zombie stock list is companies that are burning so much cash that they have less than 24 months of runway. Obviously, the second half of last year, the great - the very beginning of this year, there's a bit of a return to nuttiness, and we've seen it even out quite a bit. We created a zombie stock list right at a year ago, and it's been a pretty phenomenal performer. Rena Sherbill: And what would you designate as these many bubbles when you look at the market right now?ĭavid Trainer: Everything on our zombie stock list. This is an abridged version of our recent conversation, It's All About Liquidity - David Trainer. 6:00 - Micro bubbles and David's wide variety of longs.3:35 - Uber ( NYSE: UBER) burning too much cash.1:10 - Zombie stock list: limited runway, bad business models.

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