Video Summary: Finding shelter from stagflation with the insiders

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Here is the video summary of the July 30 INK Morning report where we provide a rebuttal to the deflationary case and highlight InterRent REIT (IIP.UN) as a stock that could benefit from continued inflation.

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We hear a lot of talk about deflation coming back, but we have two problems with that scenario. First, the deflation case assumes there will be little if any fiscal stimulus in the coming years. Yet, Washington is on the path to further expand its deficit via more defense and other spending.  This spending is inflationary, not deflationary.

Secondly, the Canadian experience demonstrates that inflation and debt can indeed go hand-in-hand. Inflation is a live and well in Canada, right at the Bank of Canada's 2% target despite the country’s highly indebted consumer.

Meanwhile, major central banks are expected to cut rates beginning with the Fed on Wednesday to counter fears of weaker growth. If weaker growth does unfold, residential REITs may end up in a sweet spot as central banks keep rates low while inflationary forces allow for higher rents.

InterRent REIT owns over 8,000 units with the bulk of the properties located in the National Capital Region, Montreal and greater Toronto.

In Q1, the REIT reported same property Net Operating Income of $19.7 million, up 11.5% from the year before. The REIT currently pays a monthly distribution representing a 2% yield.

An insider has been buying recently and the REIT ranks in the top 30% of all stocks based on our INK Edge criteria. That suggests InterRent could offer investors some protection from a stagflationary scenario.

Our report which is not a recommendation to buy or sell securities is available through or via the Canadian Insider Club at  Good luck friends and thanks for listening!

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