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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

Inflation

Showing articles with the 'inflation' tag filter.
Whatever it breaks
Central bankers once again face their old foe – inflation. Investors expect inflation to drop sharply in 2023 and the monetary cavalry to arrive by the second half of the year. But might those hopes be misguided?
Blood on the tracks
April 2023: Today's policymakers face an impossible but unavoidable choice – they must send the train down one track or the other. Either they let inflation gather steam or they pull the proverbial lever and risk a financial system calamity. There is no third way.
Hemispheres of Influence
An epic bull market in magical thinking has dominated the world in recent years. Now, real world tectonic shifts are driving us into a more inflation-prone and volatile regime. But it’s our divided brains and their relationship with technology which may hold the key to navigating the risks and opportunities of this new era.
Investment Review
April 2023: Portfolios have been alert to the dangers of a liquidity crisis for some time. Now that it has arrived, our task is to analyse how events are likely to play out. Certainly, it doesn’t appear to be a repeat of 2008. It isn’t quite like 1929 either. Reaching for either of those investor playbooks would be a mistake. But, as Jonathan Ruffer notes in his latest quarterly review, past circumstances can be instructive.
Winning by not losing
Investment Manager Fiona Ker and James Dunn from The Inside Network discuss Ruffer’s outlook for markets in 2023 and beyond.
Career-ing into liquidation
The rapid demise of Silicon Valley Bank – the second-largest US bank failure in history – has caught markets by surprise. While we don’t expect a repeat of the 2008 global financial crisis, dismissing the broader risks to the financial system would be a mistake.
A case study in LGPS diversification
A case study written with the London Borough of Hammersmith & Fulham Pension Fund exploring the benefits of genuine diversification. Particularly in a new and volatile investment regime where it may be harder to achieve through traditional LGPS building blocks.
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?
A Hemingway moment for markets?
March 2023: As the sun now sets on 2023’s first earnings season, we fear equity markets are heading for a Hemingway moment. Jasmine Yeo explores why in our latest Green Line.
Having your cake and eating it?
February 2023: Markets have rallied in expectation of a soft landing for the US economy and interest rate cuts from the Fed. As Steve Russell explains, markets can have one or the other, but both seems implausible. And any disappointment could leave investors feeling distinctly nauseous.  
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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