Mark Neuman, CIO and founder of Constrained Capital, speaks with Vivien Lou Chen of MarketWatch about his market outlook for 2023. “The tricky part for investors in a stagflation scenario would be confusion over where to invest. In a stagflation environment, there’s no defense for central banks. And if we are going into a stagflation environment, where does that leave investors? There’s always going to be sectors that act better than others, and I think the commodity patch is where I would look. I would continue to look at under-owned, under-invested and necessary areas, which makes commodities very interesting,” states Neuman.