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In the coming recession no hope if no moat

By Tom Winnifrith | Saturday 7 May 2022


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


I suspect that very few investors and surprisingly few PLC directors have any idea what a recession looks like. For starters most folks in both camps are rich but in a recession, it is the poor or lower middle classes who get whacked hardest. That is especially so when it is an inflationary recession as those lower down the order tend to have the least ability to “play catch up” by forcing through pay rises. And secondly you have to be of a certain age to remember a savage inflationary recession as an adult – the last one was ended with some fairly painful medicine by the blessed Lady Thatcher forty years ago.

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