Buffett: How inflation swindles the equity investorEditor’s Note: In this article, originally published in the May 1977 issue of Fortune, investor Warren Buffett warns how rising prices can hamper growth “not because the market falls, but in spite of the fact that the market rises.” It is no longer a secret that stocks, like bonds, do poorly in an inflationary environment. We have been in such an environment for most of the past decade, and it has
