Is high inflation coming? If so, what stocks should investors be buying? Of late, these are hot topics in the investment industry. Earlier this month, strategists from the US-based investment research and brokerage firm, Bernstein Research, said that “there is probably no bigger macro issue, both tactically and strategically, than inflation and what this means for portfolios.” Thankfully, Warren Buffett had laid out a blueprint in the 1980s for investors to deal with high inflation. The right business characteristics Chuin Ting Weber, CEO of Singapore-based bionic financial advisor, MoneyOwl, wrote in a recent article that “for the US, historically, the worst inflationary period in recent memory was from 1973-1981.” According to her article, the US inflation rate in that period ranged from 4.9% (in 1976) to 13.3% (in 1979). In 1981, the country’s inflation-reading was 8.9%. It’s against this backdrop that Buffett, widely-regarded as the best investor the world has seen,...