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.
All-weather investing
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Book corner

Book review – The outsiders
Most CEOs focus on managing operations and neglect capital allocation. This is a mistake, argues Will Thorndike, in a book featuring eight outsider CEOs whose unorthodox pursuit of quality capital allocation has driven strong long-term returns for shareholders.
Book review – Masons, tricksters and cartographers
Masons, Tricksters and Cartographers is about the sociology of science and the ‘unplanned and messy’ nature of knowledge and knowledge systems. Turnbull explores, in rather turgid prose, differing ways of producing knowledge across cultures. From a diversity of disparate systems, he finds figures that crop up time and again.
Book review – Trillion Dollar Coach
The future of information technology is beyond the comprehension of most. And competition between the companies who want to shape it is fiercer than ever.
Book review – The Shock of the Old
At the heart of historical enquiry are two simple questions: ‘What has changed?’ and ‘What has stayed the same?’ For investors, concerned with the future value of assets, these questions can be reframed: ‘What will change?’ and ‘What will stay the same?’
Book review – Engage the Enemy More Closely
What's the difference between knowledge and wisdom? The answer is that these two elements need to fuse in a chemical reaction to produce an effective investment strategy – covet wisdom, and you have time on your side; covet knowledge, and you have facts on your side. It is, of course, the luck of the draw as to which one is the winner on Wednesday.
Book review – The Profit Paradox
Jan Eeckhout is a research professor; fortunately, he doesn't write like one. Despite the serious subject matter of The Profit Paradox his style is engaging and conversational, and the book is light on its feet and commendably free of jargon.
Book review – Invisible Women
Why are women in the United Kingdom 50% more likely to be misdiagnosed after a heart attack? Or 47% more likely to be seriously injured in road traffic accidents?
Book review – The Bed of Procrustes
Aphorisms, done well, convey the wisdom of the proverb, with the power of poetry. Similar in form to a tweet, the two should not, must not, be confused or conflated.
Book review – Into Thin Air
Thinking beyond the summit. There are plenty of excellent books about investing. But sometimes the best advice can be found in unlikely places.
Book review – Dignity
Seeking respect in back row America.