30 min listen
Hamish Baillie: “Financial repression is going to be the path forward”
Hamish Baillie: “Financial repression is going to be the path forward”
ratings:
Length:
38 minutes
Released:
Oct 27, 2021
Format:
Podcast episode
Description
In the latest budget, Chancellor Rishi Sunak opened by stating that the UK’s public finances are twice as sensitive to changes in interest rates as they were before the pandemic, and that a 1 per cent increase in inflation and interest rates would cost around £23bn.Clearly there is a political imperative to keep the cost of borrowing down, as Hamish Baillie, lead manager of Ruffer Investment Company (RICA) explains in this week’s podcast. He spells out why he thinks long-term disinflationary forces are waning and why he’s preparing for a period of enduring inflation. Speaking with the IC’s Mary McDougall, he defends putting up with -2 per cent real yields on long-dated index-linked gilts and talks through Ruffer’s thought process behind buying bitcoin in November 2020 and selling out entirely by April 2021. They also discuss the outlook for some the UK's largest banks and energy companies.Ruffer Investment Company is a multi asset “all weather portfolio” designed to deliver a positive return in all market conditions. Its share price was up 28 per cent for the year to 27 October, and 42 per cent over five years. Hosted on Acast. See acast.com/privacy for more information.
Released:
Oct 27, 2021
Format:
Podcast episode
Titles in the series (100)
Investors Chronicle Companies & Markets Show 19 Dec 2014: The IC team rounds up a turbulent year on the markets, and looks ahead to what lies in store in 2015. Merry Christmas! See acast.com/privacy for privacy and opt-out information. by Investors' Chronicle