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Ruffer Radio: Mind over matter?
April 2021: Andrew van Biljon and Lauren French offer their insights into the world of behavioural economics. What do these theories say about us as decision makers? What are their shortcomings? Can behavioural science make us better investors?
Inflation protection – what’s the right recipe?
April 2021: As we emerge from lockdowns and pent-up demand meets ongoing supply constraints, we consider how different asset classes might fare if inflation does return.
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Investment Review
April 2021: Looking back over the past year and a bit, we feel a sense of relief Ruffer has performed well through another crisis – protecting clients from the initial covid turmoil, and making good money in the many weathers that have followed. Yet the markets remain our master – they will do what they do, when they do it: we must do our best in that context. And that context is about to change.
Responsible Investment Report
In our latest quarterly report, Research Director Alex Barnett explores the transition to electric vehicles, and we share our stewardship and engagement activities during the first quarter of 2021.
The Cazique. The conman
General Sir Gregor MacGregor orchestrated one of the most audacious scams in history – marvellous in its ambition and catastrophic in its consequences.
Annual Stewardship Report
Our 2020 report highlights the depth and breadth of our stewardship activities. Our focus on engaging directly with company management has afforded us a deeper understanding of the companies in which our clients are invested.
The Great Acceleration
The coronavirus crisis has accelerated pre-existing tectonic shifts that are changing world order. Four interlinked areas deserve the attention of long-term investors: greater geopolitical instability; the digital revolution; domestic political changes in the advanced economies; and the rise of environmental, social and governance (ESG) considerations.
Schrodinger’s bonds
March 2021: Corporate bonds had a near death experience in 2020. After a decade where credit markets grew to $10 trillion, borrowing costs spiked as we stared into the abyss of a global economic shutdown. We had been warning of this for several years and were positioned accordingly. But since the US Federal Reserve drenched the market with its money hosepipe, credit is alive again.
Jurassic risk
The death of inflation has been greatly exaggerated. Its return will ruin the traditional balanced 60/40 portfolios. Investors need to prepare for a world of greater inflation volatility and with it the possibility that bonds and equities fall in tandem.
Ruffer Review 2021
Download our 2021 edition of the Ruffer Review. In it we explore the fate of traditional balanced portfolios, our latest big picture thinking – on regime change and inflation – as well as fresh perspectives on trust, belief and behavioural bias.
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