Ruffer Radio

Investment Manager Jasmine Yeo joins Rory McIvor to review a quarter of dizzying market activity. They discuss the volatility of UK gilts over recent weeks, consider the potential for a liquidation event in asset markets and provide an update on how the portfolio is positioned. Download the transcript ]]>

  Moods are created by events, for sure – but events are created by moods, too. Kipling’s verse balances the permanence and evanescence of greatness – it was written at the time of Queen Victoria’s Diamond Jubilee, when tout le monde gathered to celebrate: The tumult and the shouting dies; The Captains and the Kings depart:  Lord God of Hosts, be with us yet,&nbsp...

Investment Director Duncan MacInnes joins Rory McIvor for a review of the quarter, discussing the scale of wealth destruction across markets and how they see this rippling out into real world behaviour, and looking forward to what could be on the horizon and what that means for investors. DOWNLOAD THE TRANSCRIPT ]]>

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...

Investment Director, Lauren French joins Rory McIvor for a brief overview of the quarter. We reflect on the events that have dominated markets over the past three months – including the major developments we’re all talking about. We also discuss one or two aspects which have received less attention, but may well be crucial for investors in the months ahead. ]]>

Tim Kruger is the guest author in this year’s Ruffer Review. In this episode, we discuss his article which draws on his work in the field of carbon extraction and its role in the energy transition. ]]>

In this episode of Ruffer Radio, Investment Director, Matt Smith looks ahead at what investors can expect in 2022. We briefly review the investments which worked well in Ruffer portfolios last year (and those that didn’t) and assess the opportunities and challenges arising from the return of economic, market and inflation volatility.  ]]>

In this edition of Ruffer Radio, Investment Director Duncan MacInnes explores the key themes in today’s market environment. A brief round up of how recent events impacted markets and Ruffer portfolios, and what investors have learned as we move into the fourth quarter. ]]>

Inflation is back, but for how long? Bertie Dannatt joins Ruffer Radio to discuss how markets are digesting the return of inflation, and what rising prices mean for consumers and investors alike.   Impact of different rates of inflation on £100 worth of savings over a 20 year period. Click to view larger image   ]]>

Can behavioural science make us better investors? Andrew van Biljon and Lauren French offer their insights into the world of behavioural economics.  Further reading Gigerenzer (2018), The Bias Bias in Behavioral Economics, Review of Behavioral Economics vol 5/3-4 Kahneman and Tversky (1979), Prospect Theory: An Analysis of Decision under Risk, Econometrica vol 47/2 Miller and Sanjurjo (2018),...

Bethany specialises in casting light on the shadier corners of the financial world, renowned for her exposé of the Enron scandal in the early 2000s. She joins us to discuss the tension between rational markets and emotional investors, what separates the visionary leader from the fraudster and how a bias to belief affects our decision-making. Bethany is this year’s guest contributor to...

2020 will loom large on financial markets for many years to come. As we cautiously make our way out of the crisis, Duncan MacInnes and Fiona Ker review the more startling developments of the last year, share their insights into the ongoing recovery and look ahead to some of key challenges facing investors in 2021.   More information GMO , Tonight we leave the party like it’s 1999 Office...

All elections are equal. But some elections are more equal than others.  In the latest episode of Ruffer Radio, Dr Tim Smith and Alexander Chartres discuss the 2020 race to the White House and explore why this election, in the context of a broader shift in world order, may well be the most important for a generation.   More information $2 trillion spend on green initiatives   Fossil...

Alexander Chartres, Investment Director and resident geopolitics specialist, explores the shifting sands of world order. He discusses the deteriorating relationship between the US and China and considers the implications of a new world disorder – on companies, portfolios and our everyday lives. “After Cold War I, the world traded weapons of mass destruction for weapons of mass producti...

Duncan MacInnes discusses covid-19: how it has changed the investment landscape, the impact on the Ruffer portfolio and what could happen next. This is the first episode of a new series of podcasts, where Ruffer will be exploring the investment universe and sharing their interpretation of what’s going on. “It’s our view that we are moving through an economic regime change. Corona...