Preview. Written from general knowledge to guide your reading. It's replaced by full study notes once you record this chapter.
What to listen for
- Whether stocks protect against inflation better than bonds. Graham's answer is 'partly, not reliably'.
- He argues against putting everything in stocks just because inflation is feared.
- Listen for the link between corporate profitability (return on capital) and how well stocks keep up with rising prices.
- Zweig adds TIPS and real assets as modern inflation hedges.
Record this chapter
Read it (and Zweig's commentary) aloud, or record your own takeaways afterwards. Then upload the file as ch02.m4a (or ch02-part2.m4a, ch02-commentary.m4a, ch02.txt) to your private ruleone-library repo.