By Michael Tarsala Kimberly Clark (KMB) missing earnings on higher costs this week is not the ‘AHA!’ inflation evidence that will bring down consumer stocks. Unless the developed world switches to one-ply toilet paper and cut-rate diapers overnight, there is still more money to be made going long energy stocks versus shorting inflation-resistant consumer staples. The place to look for signs of inflation is the discretionary stocks like McDonald’s and HomeDepot. So far, those companies have not had trouble passing along higher prices to consumers. There’s little reason to think…
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