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All-weather investing

Seeking consistent positive returns.

Come rain or shine.

Ruffer provides investment management services for institutions, pension funds, charities, financial planners and individual investors.
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London
Ruffer LLP
80 Victoria Street
London SW1E 5JL
Paris
Ruffer S.A.
103 boulevard Haussmann
75008 Paris, France
New York
Ruffer LLC
300 Park Avenue
New York NY 10022
Edinburgh
Ruffer LLP
31 Charlotte Square
Edinburgh EH2 4ET

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Ideas, thoughts and comments
Ruffer
In the era of brute force, lateral thinking and obliquity will be more important than ever. Metis matters.
Alexander Chartres, Fund Manager
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Risk backwards
Five lessons from the first five decades of life reveal how we often get risk wrong. Resisting the lure of comfort and conformity is more important than ever.
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In conversation with Michael Biggs
What really drives the economic cycle? It’s not the total amount of debt – it’s the rate of change of new borrowing. Investment Specialist Gemma Cairns-Smith sits down with Ruffer’s Head of Macro Strategy Michael Biggs to explore his research into the credit impulse — the change in new borrowing that drives economic activity.
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Strait lines, narrow choices
Apr 2026: With oil prices soaring, what will the impact on the global economy be? And how will policymakers react? We make the case for a stagflationary shock, but not all economies will be affected equally.
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The Green Line
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Strait lines, narrow choices
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Takaichi – Japan’s Thatcher, or its Truss?
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The price of popularity
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Bargain barrels
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Q1 2026 report
This quarter we turned our stewardship tool on UK homebuilders — and found an industry navigating real pressures, with wide variation in how well prepared companies actually are.
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A market miscellany
China’s investment in higher education and STEM subjects has caused patent applications to skyrocket. It’s all part of Beijing’s plan to overtake the West in innovation.
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Six mindsets for greatness
Guest contributor Jake Humphrey talks about Game Plan, which uses lessons from his High Performance Podcast to teach young people the secrets behind high achievers’ success.
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Ruffer Radio
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In conversation with Alexander Chartres
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In conversation with Michael Biggs
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In conversation with Chris Bacon
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Investment Review
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Cartoon by Robert Thompson: a man in a business suit stating 'never look down', balances on a zigzag-ing tightrope representing the stock market
London
Ruffer LLP
80 Victoria Street
London SW1E 5JL
Paris
Ruffer S.A.
103 boulevard Haussmann
75008 Paris, France
New York
Ruffer LLC
300 Park Avenue
New York NY 10022
Edinburgh
Ruffer LLP
31 Charlotte Square
Edinburgh EH2 4ET