Ruffer Investment Share Discussion Threads

[makinbuks] 23/4/2024 18:10

Because it's thesis was Bitcoin was like Gold

[pvb] 23/4/2024 18:05

...Well, it did go into Bitcoin. Briefly! :-)

[jellypbean] 23/4/2024 13:09

It was always going to be very difficult for funds such as these to hold up during the period of rapidly increasing rates.

When making comparisons, they should equally be compared to the kind of long duration bonds that are the stalwart of capital preservation, and which soon to be pensioners get lifestyled into (they have done much better than these). CGT got hit, RICA initially had hedges, but then these got too expensive, so they got hit, PNL had more gold so fared better.

Global markets have only really gone up on the back of a few shares, and if RICA had piled into TSLA and Nvidia it's shareholders would have gone nuts.

[hsfinch] 21/4/2024 16:12

Its an AIM oilie. Howdya think its doing. Great for directors. Not so great for PIs.

[pvb] 20/4/2024 17:30

...How's CHAR doing? ;-)

[hsfinch] 20/4/2024 10:19

Duffer Investment Company...avoid.

[elmfield] 19/4/2024 13:10

Absolutely spot on.

[lowtrawler] 19/4/2024 13:04

elmfield, clearly they have not been a step ahead for some time. In line with all capital preservation funds, they have had a problem by expecting markets to crash and finding they have reached record levels.

If markets were to crash, the "one step ahead" statement may yet have life. Until then, we are left to nurse our wounds.

[elmfield] 19/4/2024 12:57

Question, are we one step ahead now?After all these months!

[pvb] 15/4/2024 20:45

...Who?

Here:

It seems Ruffer is far from alone in this matter.

[edwardt] 15/4/2024 17:57

see they are laying off 10% of staff but not the "investment professionals". not sure why it should not be the other way round!

[makinbuks] 21/3/2024 18:20

Wow, maybe Edward is right. Can't fault his logic though in bagging lithium

[mwj1959] 19/3/2024 12:25

He bought £2.7m worth of ZNWD a year ago. Bought at 10.4p, now down at 6.5p!

[edwardt] 19/3/2024 10:10

obviously paid too much if he can write a cheque for that amount.

[pvb] 18/3/2024 09:09

...Indeed. 2 million shares.

[makinbuks] 18/3/2024 08:33

Wow, that's a large insider buy

[pvb] 19/2/2024 17:18

...Yes, sort of. They do offer redemption of their preference shares at certain times.

[edwardt] 16/2/2024 15:37

yeez this has been pants. do they do refunds?

[elmfield] 20/12/2023 15:51

About time it preformed, need a few more weeks of the same.

[bpdon] 25/10/2023 13:01

Although RICA have always warned that sticky inflation was their biggest concern, they have also been clear that the challenge will likely be trading the inflation volatility.

It seems reasonable to assume that efforts to tame inflation will eventually lead to a situation (disinflation / deflation) where CBs and governments want to take action that just reignites inflation.

With > 40% invested in short term nominal bonds and cash, I don't see Ruffer as a one way bet on inflation.

Anyways. Yes, RICA performance has been, and continues to be, poor. The swing from a circa 8% premium to 4% discount over the last 18 months has amplified this under performance.

[catabrit] 25/10/2023 12:14

Thank you for that. I will check it out. I am always keen to hear a good counter if it is backed up by solid logic.

[apollocreed1] 25/10/2023 12:10

@catabrit- For the most educated presentations of why we may enter deflation, I suggest you look up Jeff Snider of eurodollar university on YouTube. Ruffer have no idea about how significant the eurodollar market is

[apollocreed1] 25/10/2023 12:07

@spoole5-Lol! Fully agree! I think they had no idea how good cash could be. But it's not easy for fund managers to run a fund and charge fees for just keeping your money in cash.

[spoole5] 25/10/2023 09:07

This continues to not preserve wealth!