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Ruffer provides investment management services for institutions, pension funds, charities, financial planners and individual investors.
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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

The Ruffer Review

Our annual publication, sharing some investment thinking
Europe’s power predicament
Caught between US protectionism and Chinese mercantilism and now bereft of cheap Russian energy, the EU faces an existential question: how to secure its strategic autonomy and future competitiveness.
The spectres of protectionism
Economists use the 1930 Smoot-Hawley Tariff Act as a case study for protectionism’s adverse impacts. Yet the geopolitical consequences were far more profound, damaging America’s allies and provoking its enemies.
The Red Bull market in US exceptionalism
The macro and market starting points for Donald Trump’s second presidency are very different from his first. Yet he is pursuing the same objectives with greater vigour. The upshot is likely to be destabilising for markets and the global economy.
A Thousand Year Project
Merlin Hanbury-Tenison is on a mission to restore Britain's temperate rainforests, for the health of mankind and the planet.
Time up for traditional asset allocation?
We believe the global economy has entered a new era of higher and more volatile inflation. To navigate it, investors will need to allocate to a broader range of assets. And then manage them actively.
A market miscellany
Is Gen Z really spendthrift and impulsive? And can you stop murders by simply locking up 2% of the population? We see how the data stacks up.
A few good choices
Isaac Newton said, “If I have seen further it is by standing on the shoulder of giants.” At five foot one, my grandmother wasn’t a conventional giant. But she’s helped me see further, and better. And helped me in my own way to make better decisions.
A market miscellany
We explore the limitations of AI, the difficulty of assessing probabilities, ways to tackle youth unemployment and the blurring of the line between purchases and investments.
Permanence and change
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.
Not cricket
Like markets, sports depend on trust and integrity, which are easily undermined by bad actors seeking a competitive edge. Clear, robust governance can help.
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