January 2025: In his latest Investment Review, Jonathan Ruffer sees parallels between today’s Magnificent Seven and the Nifty Fifty stocks of 1970s America. Pay too much for quality, and you’ve made a bad investment.

October 2024: For 30 years, Ruffer’s chief concern has been the preservation of clients’ money. In this quarter’s review, Jonathan Ruffer revisits the merits, and measures, of this aspiration in the context of today’s market environment.

September 2024: As the US presidential race enters its final straight, Dr Tim Smith and Alexander Chartres join Rory McIvor to discuss how investors are weighing up the prospects of a new administration.

July 2024: Investors are herding into a narrow market and propelling stocks to new highs. Fund Manager Jasmine Yeo joins Rory McIvor to explain why this is a market well worth insuring against.

July 2024: Recent portfolio performance has, understandably, provoked questions from our clients and investors. These are broadly the same questions we have been asking ourselves, chief among which is: why are we comfortable owning a portfolio that feels so uncomfortable to hold? Jonathan Ruffer’s quarterly investment review seeks to answer that question, laying out the reasons for our conviction in a portfolio which can protect and grow capital as the market turns.

April 2024: Duncan MacInnes joins Rory McIvor to reflect on Q1 performance and discuss some of the portfolio’s key positions including gold and silver, derivative protections and the yen.

April 2024: Jonathan Ruffer discusses the stock market’s seemingly invincible summer. This has created distortions in both debt and equity markets, and with them, opportunities to benefit from a change in the season.

January 2024: Can the economy and markets survive interest rates at 5%? Not for long, suggests fund manager Matt Smith – either interest rates must come down or asset prices do.

January 2024: After a difficult year for portfolio performance, Jonathan Ruffer looks ahead to a world which is curiously unfit for investment purpose, given the current condition of the equity market and the end of the decades-long bull market in bonds.

October 2023: In this quarter’s episode of Ruffer Radio, Chairman Jonathan Ruffer shares his perspectives on the evolution of Ruffer’s all-weather investment approach since founding the firm in 1994.