Fretting Inflation? Buy These Funds

A sharp rise in inflation would be terrible news for the stock market and a catastophe for bondholders. But not everyone is afraid.

In fact, a select few mutual fund investors are positively cheering for it. They were heartened by Ben Bernanke's comments this week suggesting the rate remains "elevated," and by the inflationary news on unit labor costs.

They want more. Frankly, these perverse souls would love to see soaring prices and runaway interest rates. Memories of Jimmy Carter and double-digit inflation make them misty-eyed with nostalgia. They probably like to watch That '70s Show and listen to to old Bee Gees LPs.

Who are these characters? ...