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Trade in Soda; One of the mysteries of 2023 is why it is taking so long for the economy to slow following the aggressive monetary tightening. We have discussed this from various angles, but the Goldman Sachs US Financial Conditions Index caught my attention. It shows how conditions have tightened

Trade in Whisky; Back in 2006, I attended a lunch presentation with Arjun Murti, the Goldman Sachs oil analyst who coined the phrase “super spike”. I followed him closely, and needed to, because our oil guy at HSBC Asset Management was still forecasting $25 per barrel on the basis that

Trade in Whisky; A characteristic of 2023 is how the risk-averse funds have lost money while the stockmarket has roared away, at least parts of it. These fund managers, with absolute return mandates, see dark times ahead and have been positioned for a bear market. It hasn’t come, at

This week we review the Ruffer Investment Company (RICA). But before we do, I was very satisfied with last week’s review of the Capital Gearing Trust (CGT), which ended with a discussion with the co-manager, Chris Clothier. He answered your questions clearly and confirmed that they have a resilient

Trade in Whisky; There is disquiet as our two long-standing, multi-asset investment trusts have come under pressure. The Capital Gearing Trust (CGT) and the Ruffer Investment Company (RICA) have excellent long-term track records and would both be considered diversified and defensive. Yet things have gone wrong for these strategies in