Regime change

Showing articles with the 'regime change' tag filter.
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.
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.
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Investment Review
January 2021: A changing of the guard is also the way of the world – and on its way. We are preparing for a time when high taxes – on capital gains, wealth, and income – effectively constrain capital accumulation.
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Ruffer Radio: A view from the bridge
January 2021: 2020 will loom large on financial markets for many years to come. As we cautiously make our way out of the crisis, Duncan MacInnes and Fiona Ker review the more startling developments of the last year, share their insights into the ongoing recovery and look ahead to some of key challenges facing investors in 2021.
The K is not OK
December 2020: The consensus is we are in a K shaped recovery - that means winners and losers. What impact will this have on the economy and will the vaccine change its course?
The 60/40 portfolio
This has been the allocation of choice for traditional balanced portfolios and has served investors well for the past 50 years. Is this all about to change and should investors be looking for something different?
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.
Book review – Dignity
Seeking respect in back row America.
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Ruffer Radio: Gold Matters
September 2020: John Wong, co-manager of the LF Ruffer Gold Fund, and Jenny Renton, Investment Director and co-manager of the Charity Assets Trust, assess the case for gold and share their thoughts on its role in investors’ portfolios.
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