Ruffer

Soaring debt, record bond issuance, fiscal challenges: the US stage appears set for a high-stakes financial drama in 2025. Fund Manager Steve Russell explains why the bond vigilantes may well be back. Could they trigger America's first fiscal crisis since the Civil War? https://lnkd.in/emYQ7Gfr #BondMarkets #EconomicOutlook #BondVigilantes Video: Annabel Paterson 

Forget ABC – it’s time to take another look at Chinese equities, says Duncan MacInnes CFA. Depressed sentiment, low valuations and policy support are creating potential opportunity. #investing #China #undervalued #macrotrends https://lnkd.in/eYQwk9cv

Is Germany the loser in the tug of Cold War? The foundations of German industrial policy – cheap Russian energy and open Chinese markets – are crumbling. Our latest Green Line written by Jamie Dannhauser explores the existential crisis facing German industry and the wider ramifications for the EU. #inflation #industrialpolicy https://lnkd.in/efjFef2A

The Ruffer portfolio is deliberately unbenchmarked – that has not changed since the strategy was launched 30 years ago. We’re not trying to beat market indices, but as Jonathan Ruffer notes “the return on cash has to be beaten, relentlessly, constantly, and by a proper margin.” In this quarter’s review, Jonathan sets out the risk-reward profile of the portfolio today and looks at credit-spreads, as one example, of a payoff worth waiting for. https://lnkd.in/eQWtcg_x #creditspreads #payoff #volatility

This time around – unusually – policies really matter. Donald Trump and Kamala Harris are offering two quite different visions of America. And it’s on tax and trade - the issues that matter most for markets – where we see the biggest gap between the candidates’ policy platforms. Tim Smith, PhD and Alexander Chartres join Rory McIvor for a deep dive on those policies and their potential impact on the investment landscape. https://lnkd.in/eZ7cUgni #Trump #Harris #Election2024 #markets

Elections are always fought on the battlegrounds of both personality and policy. But it’s rarely clear-cut on either front. With little to separate Harris and Trump in the polls, Economist Jamie Dannhauser digs into the candidates’ prospective agendas and considers how their policies might impact progress on inflation. https://lnkd.in/eXezeE4Y Video: Rory McIvor #election2024 #Trump #tariffs

Webinar: portfolio update and market outlook Thursday 5 September, 9.15am BST Did August’s market whipsaw give investors pause for thought? In our next webinar, Fund Managers Alex Lennard and Duncan MacInnes CFA will join Rory McIvor to discuss how recent market events have impacted the Ruffer portfolio. What can we learn from investors’ reactions? Has Ruffer’s thinking changed as a result? If you would like to submit a question prior to the webinar, please email events@ruffer.co.uk. Register here: https://lnkd.in/grc_kD-R #webinar #Ruffer #protectandgrow

We are delighted that Ruffer has retained its status as a signatory to the UK Stewardship Code. Read our annual stewardship report here https://lnkd.in/eZBs-y5z

“Lots of investors are seeing the same risks we see. But we’re in a minority by owning a portfolio which can perform strongly should these risks come to pass.” Fund Manager Jasmine Yeo joins Rory McIvor to discuss why she believes today’s market is well worth insuring against. https://lnkd.in/efffWmRh #risk #protection #credit

How much debt is too much debt? In the United States – where debt servicing costs have eclipsed the entire defence budget – the answer to that question may be fast approaching. Investment Specialist Gemma Cairns-Smith, CFA delves into the national debt dynamic in this month’s Green Line and asks which assets might benefit from this immovable mountain. https://lnkd.in/gJAenAut Video: Rory McIvor #debt #inflation #financialrepression