WELCOME TO RUFFER

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

Just bluster?

Ideas, thoughts and comments
Ruffer
Brace for bread and circuses. And soon, perhaps, and emperor.
Henry Maxey, Chairman and Co-CIO
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The Ruffer Review 2026
At a time of increasing political, economic and market disequilibrium, the Ruffer Review 2026 assesses a broad range of risks – and unearths some underappreciated opportunities.
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In conversation with Chris Bacon
In this thought‑provoking conversation, Ruffer Chief Executive Chris Bacon discusses the idea of Risk backwards: that comfort, conformity and ‘blanding’ can create the illusion of safety while increasing vulnerability.
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Iliads and Odysseys
We have entered a new era, where hard power rules. Safely navigating this New World Disorder will require the agile intelligence of Odysseus.
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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
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