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By François MASQUELIER, Chair of ATEL
Fast-growing inflation
According to the famous Warren Buffet, inflation acts as a gigantic corporate tapeworm (said in the 80’). Is this statement still accurate? And he even added that tapeworm pre-emptively consumes its requisite daily diet of investments in Dollars, regardless of the health of hosting organism. If you read the recent annual reports of large MNC’s, we can read a litany of events explaining how they have blown the best-laid strategy off course and often into unchartered waters. Although the market impacts have dissipated, the legacy over the longer term remains in the form of increased energy and food scarcity, disrupted international supply chains and, in some countries...
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