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Seeking good positive returns.

Come rain or shine.

Ruffer provides investment management services for institutions, pension funds, charities, financial planners and individual investors.
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80 Victoria Street
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Book review – Engage the enemy more closely
What's the difference between knowledge and wisdom? The answer is that these two elements need to fuse in a chemical reaction to produce an effective investment strategy – covet wisdom, and you have time on your side; covet knowledge, and you have facts on your side. It is, of course, the luck of the draw as to which one is the winner on Wednesday.
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Ruffer Radio: Winning by not losing – protection strategies
June 2022: Avoiding major drawdowns in markets is key to outperforming over the long-term. It may sound obvious, but in a world of near universal asset vulnerability, it has seldom been more important to stand resolute against falling markets. In this episode, Lauren French and Andrew van Biljon discuss Ruffer's approach to protecting against tail risks in the market and they lift the lid on some of the more creative strategies in the portfolio today.
Book review – The Profit Paradox
Jan Eeckhout is a research professor; fortunately, he doesn't write like one. Despite the serious subject matter of The Profit Paradox his style is engaging and conversational, and the book is light on its feet and commendably free of jargon.
La la land?
June 2022: Who’d be a central banker today? Once, they were the masters of the universe, bravely slaying the dragon of inflation and slashing interest rates to save the economy in times of peril. Today, they seem powerless to control inflation. Fearful of raising interest rates too far, they issue hollow calls for wage restraint. No wonder Andrew Bailey, Governor of the Bank of England, admitted to MPs recently that “It’s a very, very difficult place for us to be in.”
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Short dreams, long reality
Economic conditions of the last few decades have supported a long ascent in the majority of asset prices. Investors must now confront conditions alien to most, potentially leading to a more painful descent. In this webinar, Ruffer’s economist, Jamie Dannhauser will explore the key dynamics of this changed economic landscape.
Book review – Invisible Women
Why are women in the United Kingdom 50% more likely to be misdiagnosed after a heart attack? Or 47% more likely to be seriously injured in road traffic accidents?
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Protecting capital
Protecting clients' capital is the core of Ruffer's investment approach. As the market landscape has evolved, so too have the strategies we use to achieve this objective. In this presentation we’ll look at historic examples of our protection strategies - what they were and how they were implemented. We'll also discuss the risks we see in the current market environment and how we're seeking to protect against these.
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Crossing the Rubicon
Investors face one of the most complex market environments in history. Simultaneous shifts in the global energy system, geopolitics, demography, technology and much else besides promise a more inflation-prone and volatile world ahead. This brings with it elevated risks, but also potential rewards. Amidst all the uncertainty, this presentation will examine what investors can have conviction about.
Nowhere to hide?
May 2022: So far this year, the prices of almost all conventional assets are down. Supposedly diversified portfolios have turned out to be anything but. To preserve their capital, investors will require a new approach to constructing portfolios - flexible, adaptable, robust, and responsive.
Taking back control?
In the late 1970s, the world was on the cusp of radical change. The ‘Deflation Machine’ was being born. Deng Xiaoping began reforming China’s moribund economy. In the West, liberal, free-market ideals were gaining traction, ideals that underpinned the subsequent regime of rapid, disinflationary global growth.
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London
80 Victoria Street
London SW1E 5JL
Edinburgh
31 Charlotte Square
Edinburgh EH2 4ET
Paris
103 boulevard Haussmann
75008 Paris, France