$Copper (LIST2510.US)$$Lockheed Martin (LMT.US)$$Energy ETF ...

$Copper(BK2510.US)$ $Lockheed Martin(LMT.US)$ $Energy ETF(BK2724.US)$ I put a lot into various oil companies. Those plays were made before the current energy crisis and before people started to think "transitory" inflation will last a lot longer than expected. I am basically banking on the improved cash flows from oil at moderate prices will eventually be reflected in the stock prices. These much higher prices are a blessing.

The money I have allocated to diversified ETFs has 12.5% devoted to a commodities ETF that contains a mixture of energy, precious metals, industrial metals, farm products, etc.

It looks to me that as inflation bites and people struggle to buy essentials then there will be less discretionary spending. Margins will be squeezed for many companies as the resist raising prices. The lowest cost producers of essential goods might be a good play, and a defensive one.