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The consumer price index surged 6.2% last month, marking its biggest gain in 30 years. Market bull Jeremy Siegel has warned that a market correction may be imminent if another hot inflation report comes in. Moreover, the concerns over the global economic recovery due to the emergence of the omicron coronavirus variant could keep the market under pressure.
As of September 30, Buffett held 9.56 million shares of Visa Inc . (NYSE:V), 400 million of The Coca-Cola Company (NYSE:KO), and 61.79 million shares of The Kroger Co . (KR). Given these companies’ strong fundamentals and significant market share, they might be solid bets to hedge your portfolio against the market correction.
