All-weather investing

Seeking good positive returns.

Come rain or shine.

Ruffer LLP
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

The Green Line

A monthly chart, plus a short commentary
Scrabbling around for income
July 2020: Coronavirus shutdowns have triggered the worst recession since the Great Depression. Like a depth charge dropped against a submarine, we’ve felt the shockwave but have yet to see how much debris floats to the surface. Ratings agencies suggest the damage is serious and that default rates will soar.
Covid-19 and the dawn of a new market era
April 2020: The era of monetary dominance is over. Helicopter money signals investment regime changes ahead.
Gravity: suspended until further notice
February 2020: What on earth is going on? Gravity is a universal constant. But it turns out that zero interest rates can suspend it – in financial markets, at least.
Has We killed the unicorns?
October 2019: WeWork’s ill-fated IPO is the tip of an iceberg
Playing chicken with a crocodile
July 2019: Low rates and quantitative easing (QE) have created another asset bubble
Infini-QE: helicopter money
April 2019: Central bank policies have favoured the ‘haves’ and the ‘have yachts’. Quantitative easing in the next crisis might look very different
Triple B or not triple B? That is the question…
January 2019: Growing risks in corporate debt markets spell big trouble – and big opportunities
Brexit bargains for Christmas?
November 2018: UK stocks are attractive on a free cash flow basis compared with the rest of the world
The corporate credit canary – is US corporate debt on borrowed time?
August 2018: The risk of soaring corporate debt is being ignored
Quantitative tightening – what might it mean?
May 2018: Shrinking central bank balance sheets could undermine record asset prices
1
London
80 Victoria Street
London SW1E 5JL
Edinburgh
31 Charlotte Square
Edinburgh EH2 4ET
Paris
103 boulevard Haussmann
75008 Paris, France