Stagflation - Equity Analyst View
"Western central banks' decade of aggressive money printing created strong asset price inflation. Add handout checks and tax relief (fiscal stimulus) and supply issues in the recent pandemic. Inflation has now found its way into real economy prices and wages. With a recession long overdue, Western economies now face threats of stagflation." - @piggyback

How about (1) low-multiple stocks? In (2) trading and financing centers for (3) commodities, (4) goods, and (5) infrastructure? Not a bad combination for trying to keep up with stagflation.

In this week’s first PiggyBack Letter (PBL) Buffett's Inflation Bet With The House(s) we piggyback Warren Buffett’s insurance conglomerate, Berkshire Hathaway. From Berkshire’s Omaha, Nebraska across the Pacific. We study Japanese trading houses, a niche industry theme still in play.


Stagflation poll @commonstock users and creators
How worried are you about the risk that current inflation sticks throughout extended recessionary stagflation? (I.e. rising inflation in weak economy)
14 VotesPoll ends on: 07/05/22
What Happened Last Week in Special Sits Land?
A lot - here are ten highlights!

  • Kohl's $KSS bidder Franchise Group $FRG is considering lowering its offer to $50 per share.

  • PBF Logistics $PBFX gained as PBF Energy $PBF disclosed it was mulling a takeover bid.

  • Spirit $SAVE amended its merger agreement with Frontier $ULCC, shunning JetBlue’s $JBLU $33.50 per share proposal.

  • Celsius Holdings $CELH may be a takeover target for Pepsi $PEP.

  • Occidental Petroleum $OXY may be the next takeover target of Buffett’s Berkshire $BRKB as it continues to buy additional shares.

  • Seagen $SGEN merger talks with Merck $MRK are reportedly picking up pace.

  • New Relic $NEWR Jana Partners added to its stake.

  • Kellogg $K announced spin-offs of its cereal and plant-based businesses, separating them from its snacking business.

  • Zendesk $ZEN agreed to a buyout by Hellman & Friedman + Permira.
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