Charles de Vaulx on the risk of inflation and hyperinflation

Even though I understand why we have all these deflationary forces going on, either due to industry disruptions or some of the monetary policies that are followed,... if I were a wealthy client I want to believe that the ultimate nightmare is inflation, as opposed to deflation or disinflation.  Now don't get me wrong, deflation is not something that's amusing...  Deflation's not easy; companies default.  People always associate gold with inflation, but they forget that gold does very well in deflationary times because gold is not an IOU...  So if you're wealthy and you fear deflation, if you are exceedingly careful about counterparty risk, I think you can do ok.  Conversely, if inflation or hyperinflation comes, it's a lot harder to maintain your wealth in real terms...  I do worry that the next step will be inflation. 

~ Charles de Vaulx, "Charles de Vaulx: Why Value Investing Has Slumped but Will Rebound," 43:00 mark, Morningstar interview, November 20, 2019

Diego Parrilla on limiting exposure to inflation risk

We have a problem with cash, we have a problem with fixed income, and we have a problem with credit, because they are effectively short inflation.

~ Diego Parrilla, "Diego Parrilla On Appreciating the Opportunity Set in 'Antibubbles'," Superinvestors and the Art of Worldly Wisdom, 44:10 mark, April 21, 2021