I agree with this interview with a hedge fund dude about inflation

I think Paul Tudor Jones is right - this interview is on CNBC. Jones is a billionaire philanthropist and interested in conservation and poverty reduction. The video is below (3 minutes long) or read the online posting here -

“I think to me the No. 1 issue facing Main Street investors is inflation, and it’s pretty clear to me that inflation is not transitory,” Jones said Wednesday on CNBC’s “Squawk Box.” “It’s probably the single biggest threat to certainly financial markets and I think to society just in general.”

 

The founder and chief investment officer of Tudor Investment Corp. said that it’s time to double down on inflation hedges including commodities and Treasury inflation-protected securities, and that investors should avoid fixed income in this inflationary and low-rate environment.

“You don’t want to own fixed income,” Jones said. “You do not want to hold that whatsoever because what they’re saying, what they’re telling you by their actions, is that they’re going to be slow and late to fight inflation and somewhere down the road, somebody will have to come in ... and put the hammer down.”

Still, the legendary investor didn’t sound too dire about stocks, saying they could be a decent bet amid persistent inflation. Jones said if the Fed moves to address inflation, it could compress equity multiples.

“Equities are interesting. Certainly in an inflationary world, they are a much better bet than fixed income,” Jones said.

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Jones shot to fame after he predicted and profited from the 1987 stock market crash. He is also the chairman of nonprofit Just Capital, which ranks public U.S. companies based on social and environmental metrics.