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
Select Location
UK
Europe
Australia
US
Asia
Middle East
Channel Islands
Rest of world
Type of Investor
Individual investors
Institutional
Charity
Family office
Financial planner
Individual investors
Institutional
Charity
Wholesale
Institutional
Institutional
Institutional
All investors
All investors
London
80 Victoria Street
London SW1E 5JL
Edinburgh
31 Charlotte Square
Edinburgh EH2 4ET
Paris
103 boulevard Haussmann
75008 Paris, France

Investment Review

A quarterly newsletter written by our founder Jonathan Ruffer
Audio icon
Investment Review
April 2021: Looking back over the past year and a bit, we feel a sense of relief Ruffer has performed well through another crisis – protecting clients from the initial covid turmoil, and making good money in the many weathers that have followed. Yet the markets remain our master – they will do what they do, when they do it: we must do our best in that context. And that context is about to change.
Audio icon
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.
Audio icon
Investment Review
October 2020: Whatever one’s outlook, there have been times in 2020 when the markets seemed to echo one’s innermost thoughts, and times when we shout out like Falstaff, that the whole world has gone mad.
Audio icon
Investment Review
June 2020: This review touches briefly on what has gone before, then sets out what we expect for the coming months and years.
Audio icon
Investment Review
April 2020: When the elements speak, elemental forces are unleashed, and it is important, in the middle of this storm, to capture the right tone of voice.
Audio icon
Investment Review
January 2020: The year of 2019 was one when many of the six impossible things before breakfast remain unresolved – with the shining exception of Brexit, and the wider resolution of domestic politics.
Audio icon
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.
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.
Investment Review
April 2019: ‘Timing is everything’ runs the investment cliché – actually it’s not: being right is better. In any event, spare a thought for the writer of this investment review who has been told that it must be in final form by 27 March.
Investment Review
January 2019: “I thought you chaps at Ruffer said that you’d never lose money for me – what’s gone wrong?”
London
80 Victoria Street
London SW1E 5JL
Edinburgh
31 Charlotte Square
Edinburgh EH2 4ET
Paris
103 boulevard Haussmann
75008 Paris, France