Ruffer Radio
Episodes
In conversation with Michael Biggs
19 Mar 2026
Contributed by Lukas
In this video podcast, Gemma Cairns‑Smith sits down with Michael Biggs, author of The road to prosperity is paved with debt, to explore his research...
In conversation with Chris Bacon
18 Mar 2026
Contributed by Lukas
In this thought‑provoking conversation, Ruffer Chief Executive Chris Bacon discusses the central idea behind his Ruffer Review article Risk backward...
In conversation with Alexander Chartres
17 Mar 2026
Contributed by Lukas
Fund Manager Alexander Chartres sits down with Investment Specialist Gemma Cairns-Smith to discuss the challenges facing investors in a more fractured...
Investment Review
02 Jan 2026
Contributed by Lukas
January 2026: Jonathan Ruffer reflects on over 30 years in investment management and warns that today’s speculative market exuberance will eventuall...
Investment Review
30 Sep 2025
Contributed by Lukas
October 2025: After fifty years of almost uninterrupted bull markets, Jonathan Ruffer examines whether we’re approaching a turning point.
Investment Review
01 Jul 2025
Contributed by Lukas
July 2025: Markets hit record highs despite wars, tariffs, and towering debt. Jonathan Ruffer explores why today’s ‘Looney Tune’ valuations pers...
Investment Review
31 Mar 2025
Contributed by Lukas
April 2025: Equities are at maximum valuations, investors are at peak investedness, and now a regime change which markets have not yet digested. Jonat...
Could 2025 challenge market optimism?
16 Jan 2025
Contributed by Lukas
January 2025: Fund Manager, Steve Russell discusses the investment risks we see in 2025 – overvalued US markets, Trumps return to office, rising bon...
Investment Review
02 Jan 2025
Contributed by Lukas
January 2025: In his latest Investment Review, Jonathan Ruffer sees parallels between today’s Magnificent Seven and the Nifty Fifty stocks of 1970s ...
Investment Review
30 Sep 2024
Contributed by Lukas
October 2024: For 30 years, Ruffer’s chief concern has been the preservation of clients’ money. In this quarter’s review, Jonathan Ruffer revisi...
Election 2024
09 Sep 2024
Contributed by Lukas
September 2024: As the US presidential race enters its final straight, Dr Tim Smith and Alexander Chartres join Rory McIvor to discuss how investors a...
Leaving the pack
14 Jul 2024
Contributed by Lukas
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 th...
Investment Review
10 Jul 2024
Contributed by Lukas
July 2024: Recent portfolio performance has, understandably, provoked questions from our clients and investors. These are broadly the same questions w...
Ugly ducklings
16 Apr 2024
Contributed by Lukas
April 2024: Duncan MacInnes joins Rory McIvor to reflect on Q1 performance and discuss some of the portfolio’s key positions including gold and silv...
Investment Review
08 Apr 2024
Contributed by Lukas
April 2024: Jonathan Ruffer discusses the stock market’s seemingly invincible summer. This has created distortions in both debt and equity markets, ...
Survival at 5?
10 Jan 2024
Contributed by Lukas
January 2024: Can the economy and markets survive interest rates at 5%? Not for long, suggests fund manager Matt Smith – either interest rates must ...
Investment Review
09 Jan 2024
Contributed by Lukas
January 2024: After a difficult year for portfolio performance, Jonathan Ruffer looks ahead to a world which is curiously unfit for investment purpose...
From the Chairman
09 Oct 2023
Contributed by Lukas
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 Review
06 Oct 2023
Contributed by Lukas
October 2023: With our cautious positioning proving costly so far this year, Jonathan Ruffer considers why some offsetting assets have not performed a...
Investment Review
06 Jul 2023
Contributed by Lukas
July 2023: Our defensive positioning in anticipation of a liquidation event has hurt portfolio performance so far this year. In his latest quarterly r...
Early and ready
06 Jul 2023
Contributed by Lukas
July 2023: Investment Director Steve Russell reviews the downtrend in performance this year in the context of a global equity market rally.
Something always breaks
05 Apr 2023
Contributed by Lukas
April 2023: After a strong start to the year, markets were destabilised by a shift in liquidity dynamics in March. Central banks now face a reckoning....
Investment Review
02 Apr 2023
Contributed by Lukas
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 ...
Investment Review
09 Jan 2023
Contributed by Lukas
January 2023: To get a sense of where we’re going in the inflationary journey, it helps to understand where we came from. Jonathan Ruffer’s quarte...
Led by the Fed
06 Jan 2023
Contributed by Lukas
January 2023: Of the many storylines to unfold in 2022, only one really mattered to investors – rising interest rates and falling asset prices. The ...
Ruffer round up Q3 22
09 Oct 2022
Contributed by Lukas
October 2022: Investment Manager Jasmine Yeo joins Rory McIvor to review a quarter of dizzying market activity. They discuss the volatility of UK gilt...
Investment Review – Q3 2022
02 Oct 2022
Contributed by Lukas
October 2022: In his latest quarterly review, Jonathan Ruffer reflects on the possibility of an imminent liquidity crisis in markets and looks at why ...
Ruffer round up Q2 22
07 Jul 2022
Contributed by Lukas
July 2022: Investment Director Duncan MacInnes joins Rory McIvor for a review of the quarter, discussing the scale of wealth destruction across market...
Winning by not losing – protection strategies
15 Jun 2022
Contributed by Lukas
June 2022: Avoiding major drawdowns in markets is key to outperforming over the long-term. It may sound obvious, but in a world of near universal a...
Ruffer round up Q1 22
12 Apr 2022
Contributed by Lukas
April 2022: We reflect on the events that have dominated markets - including the major developments we’re all talking about. We also discuss aspects...
From reduction to removal
11 Mar 2022
Contributed by Lukas
March 2022: 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 fiel...
Ruffer round up Q4 21
13 Jan 2022
Contributed by Lukas
January 2022: Investment Director Matt Smith looks ahead to 2022, we briefly review the investments which worked well (and those that didn’t) and as...
Ruffer round up Q3 21
10 Oct 2021
Contributed by Lukas
October 2021: A brief round up where we look at how recent events impacted markets and Ruffer portfolios, and what investors have learned as we move i...
Inflation – great expectations
12 Jul 2021
Contributed by Lukas
July 2021: Inflation is back, but for how long? Bertie Dannatt joins Ruffer Radio to discuss how markets are digesting the return of inflation, and wh...
Mind over matter?
18 Apr 2021
Contributed by Lukas
April 2021: Andrew van Biljon and Lauren French offer their insights into the world of behavioural economics. What do these theories say about us as d...
A bias to belief
25 Feb 2021
Contributed by Lukas
February 2021: Bethany McLean joins us to discuss the tension between rational markets and emotional investors, what separates the visionary leader fr...
A view from the bridge
08 Jan 2021
Contributed by Lukas
January 2021: 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 F...
Election 2020
06 Oct 2020
Contributed by Lukas
October 2020: All elections are equal. But some elections are more equal than others. In the latest episode of Ruffer Radio, Dr Tim Smith and Alexande...
Cold War II
05 Jul 2020
Contributed by Lukas
July 2020: Alexander Chartres, Investment Director and resident geopolitics specialist, explores the shifting sands of world order, focusing on the de...
Markets now and next
26 Apr 2020
Contributed by Lukas
April 2020: Duncan MacInnes discusses covid-19: how it has changed the investment landscape, the impact on the Ruffer portfolio and what could happen ...