Hamish Baillie
The Guardian
What holds, and what fails, under pressure, standards and accountability.
Hamish Baillie embodies the Guardian archetype throughout this interview, consistently framing Ruffer's entire investment philosophy around capital preservation and protecting clients from harm. Baillie articulates a worldview organized around identifying threats before they materialize, building portfolios that hold up in scenarios the manager cannot fully predict, and using layered protective instruments including derivatives, index-linked bonds, gold, and currency blocks.
“It's a very diverse client base in terms of the types of investor, but I think what they all share is that the money they allocate to Rougher to invest is really important that it is preserved. The spending power of that is preserved.”
“I mean they're slightly different but more like the West When you start to go into China that is clearly very different. I mean we spend a lot of time looking at China. We don't have much invested there at the moment but many of the companies that we hold will be hugely influenced by what goes on in China.”
“Talking about, as you did earlier on, the derating that occurs in inflation, sitting here in the home market, you've got a UK equity market that has been substantially derated courtesy of a number of things really over the last 15 years.”
“But we do feel at the moment that this is a big enough risk that we really need to do something, both to protect our investors, but also to create an opportunity there as well.”
Money Maze Podcast: “The $30 Billion Absolute Return Strategy: Hamish Baillie, Partner at Ruffer Investment Management, explains how they have managed to stand out from the crowd”
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