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“People talk about this being an uncertain time,” Warren Buffett, the master punter of value stocks once said. But, he added “you know, all time is uncertain”.

Still, rising inflation, rampant oil prices and Russia’s belligerence don’t make for much certainty — raising a legitimate concern for many dividend-dependent investors and pensioners: where to invest now. Inflation, or the expectation thereof, plays a disproportionate role in valuing stocks and other assets (such as property)...

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