His approach favors durable moats, consistent cash generation, and industry structures that reward restraint as much as selection. Here are five sectors he continues to sidestep – and why.

One can get rapidly accelerating inflation if monetary policy is completely untethered in a situation where there are massive budget deficits, and the central bank is acting completely at the discretion of the fiscal authority.

The Japanese Yen drifts lower against the rebounding US Dollar for the third straight day and lifts the USD/JPY pair to a nearly one-week high, around the 147.70-147.75 region during the Asian session on Tuesday.