TMVWF - Top Stocks To Help Prepare For A Recession - We Recommend Gilead Sciences

• We think a serious recession is more likely than not, with the signs of crisis and dislocation already showing themselves.
• In big focus are rates, and the house view is that they'll have to rise more than the market expects to deal with supply shortages.
• Disposable income could get meaningfully chopped as inflation is also supply side and harder to tackle, and much leverage has been introduced to the economy.
• It's time to get defensive, thinking of beaten-down stocks with a margin of safety and products that won't decline much during a recession.
• Our main pick is Gilead, but we also propose Imperial Brands and TeamViewer.

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