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Come rain or shine.

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

All articles

Book review – Into Thin Air
Thinking beyond the summit. There are plenty of excellent books about investing. But sometimes the best advice can be found in unlikely places.
Not all inflationistas wear flares
November 2021: Investors have divided into two camps. Those who believe inflation will subside and the rise in prices will prove temporary. And others who fear we are entering a period of high sustained inflation reminiscent of the 1970s. We consider both scenarios unlikely.
Engagement over exclusion
August 2021: Engaging with companies to improve their climate policies is not only beneficial to the environment, but also to investors. Hermione Davies explains how our engagement with ArcelorMittal has led to significant positive outcomes.
Easy money comes, easy money can go
May 2021: Over the past five months investors put more money into equity funds than in the previous twelve years combined. At Ruffer we believe we are entering a new regime, which will be disastrous for conventional bonds. But what will this new regime – with the global economy poised for a growth spurt – mean for equities?
Inflation gets real – time to adjust
February 2021: Our view is that rising prices in some traditional industries are signalling that the recovery, when it comes, will look very different and be much more inflationary than anything we have seen for 30 years.
Remind me why you own bonds
November 2020: The future looks even more uncertain than usual. Normally uncertainty translates into lower asset prices. But not this time. And with the prices of all assets buoyed by abundant liquidity, we fear a traditional ‘diversified’ portfolio is not going to be much protection in the next market convulsion.
Time to value Value
August 2020: The US internet shares have been roaring ahead, particularly in recent months. The coronavirus crisis has accelerated the shift toward online retail and smart communications, and these are the most obvious winners. It has been a giddy ride.
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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