All articles

How Corporate America stole its own future
November 2019: US companies are paying shareholders more than they can afford
Has We killed the unicorns?
October 2019: WeWork’s ill-fated IPO is the tip of an iceberg
Are there dangers lurking in the risk profiling process?
What risk profile is Ruffer? This is a simple question. The short answer is ‘4’. But what does a ‘4’ really mean?
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Investment Review
October 2019: There’s a childhood game, whose name changes each generation – currently called Jenga. It starts as a wall of wooden bricks, and successive players remove individual pieces until the loser takes one out, and down falls the edifice.
Mad for growth
September 2019: Investors chasing growth stocks creates both danger and opportunities
Bond investors: want more yield? Buy gold!
August 2019: What is gold telling us about the topsy-turvy reality of negative yielding debt?
Playing chicken with a crocodile
July 2019: Low rates and quantitative easing (QE) have created another asset bubble
Investment Review
July 2019: When the Governor of the Bank of England speaks, it is always worth listening to, and he is on to something when he writes about market liquidity; he is surely right to flag the dangers of the narrow exit doors in a crowded investment room.
A 21st century fairy tale: the venture capitalist and the unicorn
June 2019: The percentage of unprofitable companies listing on public markets has never been higher
Heads you win… tails you win?
May 2019: Can you have your cake and eat it with index-linked bonds?
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