Ruffer Investment Share Discussion Threads

[madengland] 20/10/2014 23:39

Guess the question is strategy or not, can the incumbents execute the strategy as JR did. Returns suggest not. Do you invest and hope or do you look for performance?

[lambeater] 20/10/2014 00:27

Added more of these at 194p last week which brings my average to 201p including dividends, so still showing a small loss. The fund's investment strategy is unchanged since the days of Jonathan Ruffer so imo it's only a question of time before any USD/GBP appreciation or sustained uncertainty in world markets will emerge and the investment will come good.

[elmfield] 14/10/2014 22:37

Thx for that.
Going to stay put, have to follow the plan,
I was sure inflation would follow Q.E, now I don't know but this
must give some insurance against inflation combined with cash holdings which are good in deflation but not in inflationary times.

[jimbo55] 14/10/2014 22:24

To me, Ruffer seem to be investing as they have always done. The strong Pound has hurt performance (that dynamic may now be starting to change) along with recent weakness in the Japanese market. Speaking for myself, I agree with their stance on Japanese valuations, and their investments in fear-related assets are almost certain to do well at some point. The dynamic of global markets seems to have changed now and the smell of fear is in the air. People are getting jittery and major market falls haven't even happened yet. Just a matter of time.

[madengland] 14/10/2014 14:18

It was a lovely safe place that earned you a nice return for many years. I am out now but want the old performance back so I can park some money here. This environment now used to be good for the nav. Have parked most my risk low money in HICL. Nice steady return

[elmfield] 13/10/2014 19:37

Lol,
My worst performing share of last twelve months,
And this was meant to be safe, just have to laugh, what else can you do.
It will have its day if inflation kicks in, until then just
leave in the bottom draw, imv.

[scaleyman] 13/10/2014 18:50

Too busy buying Bishop Auckland!!

[madengland] 13/10/2014 16:55

Bring back Mr. Ruffer! It's all about the mgr.

[elmfield] 01/10/2014 18:11

Sorry to see you go,
Not thrilled by this so far but will hold,
No adding yet,

[madengland] 01/10/2014 10:09

Sold out at a small loss. This trust has lost it's shine since Jonathan stopped running it. Better off in a society or other trusts. Byeeeee

[madengland] 01/9/2014 16:52

Good to see nav rising after our wobble. Maybe a return to a premium again so a possible 5% upside in near future I hope

[lambeater] 20/8/2014 16:20

From iii: "US dollar weakness was a major factor in the 3.6% fall in Ruffer Investment Company's (RICA) NAV total returns. Nearly a quarter of Ruffer's portfolio is dollar-denominated, and its managers did not hedge that exposure.

Gains on other fronts did not compensate for the fall in the dollar/sterling exchange rate, and the downturn in Ruffer's NAV led to a worse fall in the share price because the trust lost its premium rating."

[elmfield] 20/8/2014 15:47

I am down on my holding but will hold on no matter what,
Always knew buying above NAV a bit risky but I am now getting keen to double up,
Just watching but will add sometime soon.

[godel] 20/8/2014 10:46

pvb ...

This is why I sold out of my holdings. I was looking for a cash substitute and thought RICA would do but the returns don't justify the volatility over shorter timescales. RICA should really be looked upon as means of insuring your portfolio against market madness and also for exploiting value opportunities wherever they may exist.

Some rough performance figs ...

Over 1 year ... down 8.3% (CPI up 1.1% for comparison)

Over 3 years ... up 6.8% (CPI is up 6.4% for comparison)

Over 5 years ... up 34.2% (CPI is up 14.7% for comparison)

Over 10 years (actually from 1/9/04) ... up 127.5% (CPI up 30.3% for comparison)

[madengland] 20/8/2014 09:22

In fairness it's not a notion that it's less volatile than most shares, more a reality. That said, I share the disappointment in recent performance. The nav has however remained pretty stable, the discount less so. I would hope to see the return of steady nav growth whatever the weather and a reduction in discount which has been the historical performance. I am happy to stuck it out a while, a quarter is not a long time in investing.

[pvb] 19/8/2014 19:02

Madengland 10 Apr'14 - 14:03 - 80 of 89 0 0

Not sure it's any much different from any share, or investment trust. Obviously less volatile to equity price movements.

Is it? I fell for this notion and purchased RICA as a 'cash substitute' for my share portfolio, there being no interest on cash these days. Shouldn't have bothered! If I had used something like good old Bankers IT (BNKR) it would have been a much better 'cash substitute'. :-(

[godel] 19/8/2014 17:11

As they say ... " a stopped clock tells the correct time twice per day"

[elmfield] 19/8/2014 14:10

Will this step ahead now?
Been falling behind but its time will surely come,
Question is, When?

[madengland] 14/5/2014 17:09

Looks like the premium returning to the price, could be another couple percent before back to mean

[madengland] 06/5/2014 09:04

Lol. Do do some research on portfolio

[pugugly] 04/5/2014 10:42

Minimal discount to nav - With (imo) market loking for a major downside correction this could well fall to a significant discount to nav (say 12%+) which would still be much less than many investment trusts -

(imo) One to watch as well run but not to buy just yet

[madengland] 04/5/2014 06:51

Makes 3 of us!

[elmfield] 02/5/2014 23:02

That is what I did as well, so far a mistake!

[pvb] 02/5/2014 19:25

You can say that again!

I decided to park a slab of portfolio cash in it, as a better option than low interest cash deposits, using it as a proxy for a cash holding. Doesn't seem to have worked out too well. Oh well!

As they say, "timing is everything." :-(

[elmfield] 02/5/2014 18:19

This has not been as good a hold as I expected.
RCP done better,
Anyway spread it around.