Ruffer releases its 2022 Review

The 2024 Ruffer Review explores what the rise of artificial intelligence means for investors, the murky realities of cricket, and the “thankless endeavour” of forecasting. Also discussed are the technological developments that have shaped markets, and the political-economic ecosystem.

Investors remain concentrated, with most active assets in growth-style funds and passive assets concentrated in giant US technology shares. With valuations where they are today, that is a concern according to the Orbis team, which says diversification utilizing neglected stocks will be key.

Since tulipmania, good investment ideas have regularly been turned inside out after being taken to extremes. With 2021 setting all sorts of trading records, this presents an ‘alarming’ trend, especially for passive investors with lazy exposures.