Ruffer Investment Review offers unique perspective, practical advice

Ruffer Investment Review/Jonathan Ruffer/April 2023

graphic image of a golden compass“It is ironic that the demon of illiquidity should have located a pocket of weakness in the banking citadels of the financial world, when it is the asset managers who are the weaklings of the herd, not the banks as a class. The mischief will be centred on investment portfolios. To survive, one will have to be careful in the sorts of assets one owns.”

USAGOLD note: Ruffer believes that investors need to keep their powder dry in order to take advantage of the next bottom in financial markets. As a result, he recommends a strong cash position even though inflation erodes its value. Though he does not mention gold in this essay (except in a historical context), his firm has recommended holding it in the past. [Please see: Gold Matters, September 2020.]

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