Author Bios
Duncan MacInnes
Duncan MacInnes joined Ruffer LLP in 2012. He graduated from Glasgow University School of Law in 2007 and spent four years working at Barclays Wealth and Barclays Capital in Glasgow, London and Singapore. Duncan is a CFA charterholder. He is co–manager of Ruffer Investment Company.
The energy sector has fallen from 16% of the S&P 500 just 13 years ago, to below 3% as of today, as our chart shows. If you looked back to the early 1980s you would have seen it was more than 20%.
In the world of investment, there are few things everyone can agree on. You’re either a bull or a bear, a dove or a hawk, for or against.
“I have little doubt that with excess savings, new stimulus savings, huge deficit spending, more QE, a new potential infrastructure bill, a successful vaccine and euphoria around the end of the pandemic, the US economy will likely boom,” Jamie Dimon, chief executive of JPMorgan Chase, said in May 2021.
Like many readers, I took advantage of the best snow in years to go sledging with my daughters. As Daddy bombed down the hill like Bowser in Mario Kart my mortality flashed before me and I realised I was simultaneously having fun and in great danger.
The year 2020 will loom large on financial markets for many years to come. As we cautiously make our way out of the crisis, Duncan MacInnes and Fiona Ker review the more startling developments of the last year, share their insights into the ongoing recovery and look ahead to some of key challenges facing investors in 2021.
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