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Ruffer round up Q1 22

Episode 12

Ruffer Radio
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Lauren French
Deputy Head of Private Wealth
Rory McIvor
Director – Markets & Communications
 

Investment Director, Lauren French joins Rory McIvor for a brief overview of the quarter. We reflect on the events that have dominated markets over the past three months – including the major developments we’re all talking about.

We also discuss one or two aspects which have received less attention, but may well be crucial for investors in the months ahead.

2022 Q1 Investment Review
April 2022: In his latest investment review, Jonathan Ruffer reflects upon how forty years of a bull market, where for decades ‘buying the dip’ has been a sure-fire idea, is clashing against circumstances and events which may break this benign and predictable investment pattern.
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The perils of yesterday’s logic
Increasing inflation volatility represents the greatest challenge to investors for a generation. A new regime and the collapse of the financial market status quo requires us to reimagine portfolios. No longer can we rely on yesterday’s logic.
Read

Sources: US Bureau of Labor Statistics, Bloomberg

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 podcast 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 podcast does not take account of any potential investor’s investment objectives, particular needs or financial situation. This podcast 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.

Minds over matter
Whilst technology has transformed stock markets over the centuries, they are underpinned by human traits like fear and greed, which remain unaltered. But one key recent change has been to markets’ purpose, and this risks severe instability.
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Investment Review
April 2024: Jonathan Ruffer discusses the stock market’s seemingly invincible summer. This has created distortions in both debt and equity markets, and with them, opportunities to benefit from a change in the season.
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Out of sight, out of mind
April 2024: Markets today are very different to the pre-2008 era. But has systemic risk been removed or relocated?
Read
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