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Ruffer Radio: Cold War II

Episode 2

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Alexander Chartres
Investment Director
Rory McIvor
Senior Associate

Alexander Chartres, Investment Director and resident geopolitics specialist, explores the shifting sands of world order. He discusses the deteriorating relationship between the US and China and considers the implications of a new world disorder – on companies, portfolios and our everyday lives.

“After Cold War I, the world traded weapons of mass destruction for weapons of mass production.”

This shift heralded an extraordinarily benign era for investors, characterised by low inflation, low volatility and low interest rates.

The return of geopolitical instability signals a regime change for markets. At the heart of this, is a fierce contest between the US and China – “a long-term, full spectrum struggle for supremacy which will profoundly reshape the world as we know it.”

For the first time in a generation, investors must once again try to understand geopolitics and prepare their portfolios for Cold War II.


Download the transcript

Cold War II
World order has never been so complex for investors. The US and China have entered a new phase of long-term strategic global competition.
Read
2020 Q2 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.
Read
Markets now and next
April 2020: Duncan MacInnes discusses covid-19: how it has changed the investment landscape, the impact on the Ruffer portfolio and what could happen next.
Read

Past performance is not a guide to future performance. The value of investments and the income derived therefrom can decrease as well as increase and you may not get back the full amount originally invested. Ruffer performance is shown after deduction of all fees and management charges, and on the basis of income being reinvested. The value of overseas investments will be influenced by the rate of exchange.

The views expressed in this podcast are not intended as an offer or solicitation for the purchase or sale of any investment or financial instrument, including interests in any of Ruffer’s funds. The information contained in the article is fact based and does not constitute investment research, investment advice or a personal recommendation, and should not be used as the basis for any investment decision. This document does not take account of any potential investor’s investment objectives, particular needs or financial situation. This document reflects Ruffer’s opinions at the date of publication only, the opinions are subject to change without notice and Ruffer shall bear no responsibility for the opinions offered. Read the full disclaimer.

London
80 Victoria Street
London SW1E 5JL
Edinburgh
31 Charlotte Square
Edinburgh EH2 4ET
Paris
103 boulevard Haussmann
75008 Paris, France