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Easy money comes, easy money can go

May 2021: Over the past five months investors put more money into equity funds than in the previous twelve years combined. At Ruffer we believe we are entering a new regime, which will be disastrous for conventional bonds. But what will this new regime – with the global economy poised for a growth spurt – mean for equities?

Hermione Davies

6 mins | Green Line

Inflation gets real – time to adjust

February 2021: Our view is that rising prices in some traditional industries are signalling that the recovery, when it comes, will look very different and be much more inflationary than anything we have seen for 30 years.

Hermione Davies

8 mins | Green Line

Remind me why you own bonds

November 2020: The future looks even more uncertain than usual. Normally uncertainty translates into lower asset prices. But not this time. And with the prices of all assets buoyed by abundant liquidity, we fear a traditional ‘diversified’ portfolio is not going to be much protection in the next market convulsion.

Hermione Davies

7 mins | Green Line

Time to value Value

August 2020: The US internet shares have been roaring ahead, particularly in recent months. The coronavirus crisis has accelerated the shift toward online retail and smart communications, and these are the most obvious winners. It has been a giddy ride.

Hermione Davies

8 mins | Green Line

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