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TSX continues to climb past all-time highs over the past few months, and it looks like a major economic recovery is here to stay. COVID-19 cases have dropped significantly across the country, and vaccinations are well underway. So while this is all good news, it looks like inflation is also set to rise as well.
But before I get into inflation-proof Canadian stocks to buy today, buying stocks, is a great way to offset inflation. By taking a long-term position in strong stocks, a 2% increase in inflation doesn’t matter when you’re making a trailing increase of 7% year after year.
Forget Ethereum: 1 Canadian Stock to Buy in June 2021
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The growth market that Canadians became accustomed to in 2020 seems to finally be levelling out. But it has many investors hungry for more. It’s therefore little wonder the cryptocurrency soared during the first half of 2021. Yet lately there has been a bit of a pullback that is, until recently with cryptocurrency Ethereum seeing a massive climb.
But before you put everything you have on Ethereum and the potential for quick riches, there is a Canadian stock I would definitely consider instead. It offers sustained growth, but also major jumps in the months to come.