Last decade starts from 2011, after market has crashed during GFC. There was only one way to go since then all governments and central banks used stimulus to get economy to recover. As the excess supply built before GFC took 10 years or so to use up, there was no inflation and therefore were able to get away. Central banks were just withdrawing and bringing interest rates back to normality when Covid hit us . Central banks and governments went back to stimulus mode. Now with the inflation back on the scene, it will be question of tightening for the next phase, may be 5 to 10 years. This will happen very slowly. In this coming environment companies with good standing in the economy will grind it hire. This is where I am very hopeful about MFG portfolio, once it get tout of the present mess and negativeness. One or two stock which were out of synch in valuation terms in the portfolio has come down, but overall it is very good holding. This new phase has just begun, interest rates just going up in USA housing activity drop by 10% according to yesterday’s reporting.
MFG Price at posting:
$19.23 Sentiment: Buy Disclosure: Held
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