WELCOME TO RUFFER

All-weather investing

Seeking consistent positive returns.

Come rain or shine.

Ruffer provides investment management services for institutions, pension funds, charities, financial planners and individual investors.
Location
Select your Location
Visitor Type
Select investor type
Select investor type
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
Something new under the sun
Several new features of the global financial system have increased both the risk of a market crisis and its likely severity.
American Pie
The ancien régime of low inflation and free money is over. The painful adjustment process has further to run, with scope for mishaps as liquidity drains from the system. The market dreams of a Goldilocks scenario, just right for risky assets. But will the bears be kept at bay?
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.
Jurassic risk
The death of inflation has been greatly exaggerated. Its return will ruin the traditional balanced 60/40 portfolios. Investors need to prepare for a world of greater inflation volatility and with it the possibility that bonds and equities fall in tandem.
Dismantling the deflation machine
Seeking to escape the inflation of the 1970s, policymakers have inadvertently engineered an equally powerful deflation machine.
Behind the illusion of stability
The epicentre of risk in the financial system has moved.
1
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