- Back in November we encouraged investors to look to commodities, precious metals and cash-rich stocks in the face of inflation.
- It would have made us look smarter had we included the Energy sector on our list.
- The NASDAQ has another 20-30% to drop in our view as inflation persists and as the U.S. Economy softens.
- The 7.9% consensus CPI estimate for February (to be released by the BLS on Thursday morning) is almost irrelevant as the CPI for March will be materially higher given that it will include the significant upswing in Energy prices.
- We would continue to remain long commodities, precious metals and cash-rich stocks that trade at reasonable valuations while shorting high-multiple Technology stocks.
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