In his latest Forbes column, David Dreman bashes Federal Reserve Chairman Ben Bernanke, and says it’s likely that the Fed’s continued quantitative easing will lead to “serious inflationary repercussions for years to come”.

“As an economic elixir, printing money is a sop,” Dreman writes. “With interest rates already extremely low, it is unlikely to sway corporate executives to expand and hire more employees. Worse still, chances are high that this monetary policy gaffe will have serious inflationary repercussions for years to come. It has already drawn the ire of so-called bond vigilantes, who punish profligacy of central banks by selling government bonds.”

In light of that, Dreman advises targeting stocks — not bonds. “Stocks and gold have been acting very positively to QE2, indicating that investors sniff inflation in the air,” he says. “If there is continued pressure on the dollar, stocks are definitely one of the best places to be. The bond market is the place to have been.”

Dreman says a few types of firms, including insurers, energy companies, and drugmakers, can withstand or even profit from an inflationary environment. He offers a few picks from those areas.