Member Info for SpecialValue

Beginning to feel Ruffer need some change in their fund managers and strategic thinking. The only people making money are on the books. What would Jonathan Ruffer be doing now? There’s too much following the herd thinking and assumptions that if there’s a drop in markets what worked a decade ago will work now. May be time to start moving the rainy day funds. Any smart ideas?

The drop the other day due to Red Burnhams comment I took as a gypsies warning and sold my holding. I have a feeling they’ll be more using the water companies as a political football in coming weeks. With bond markets tethering the Labour Party, a drift left desire I suspect is only going to dampen enthusiasm for water company equity but may well create a good opportunity to get back in.

3 messages within a decent set of results….. fees down, infra red a 2 year contract and Bane (who brought us Trig) on the way to retiring. This will either get snapped up or maybe some sort of merge with Inpp. Short of a bond market inflation bomb this nav discount should narrow and as Bane rightly points out the world is crying out for infrastructure investment

Rusty is confident as he has one very steady income stream, currently misunderstood and I feel undervalued. He’s not the only one with a pile of cash….. so I can’t imagine the equity will remain undervalued too long now.

Https://uk.finance.yahoo.com/news/trump-next-weapon-wield-power-110000180.html

I think it’s only right to note most O&G shares down 4-7% in last 5 days. If you are going to invest in O&G the US is a good place to do so. I’ve not studied the deal, not my time od day…. But headline results, look strong would you not say?

Think these results have reasonable odds of being on the upside. Still a lot of uncertainty around which may begin to ease. 6m and 1yr up almost exactly half of some of the other O&G. The last peak all caught up then sold off. I can see reasons to hold on but I can see there’s plenty on here who disagree.

Seems it does command more than 1% of your time, but it is an interesting share and I am looking forward to seeing the results on Wednesday. If the economies of scale are coming through, with the hedges taken I am optimistic personally. We shall see in good time

This is the sort of environment that Ruffer would start to perform. The bond purchases….. well lots people talking about it so if it had been a good call, was it clever? The constant fixation with the yen….. when is it right to pivot and when persevere? Is this just legacy JR thinking? We now see share sales as clearly the fund is attracting attention, time the new breed show they have the mental fortitude to make some decent calls and start moving the nav

If we see a small bout inflation but BoE hold rates this looks more attractive. Decent inflation linkage. I’m also very keen for an update on affinity

Interesting article, hopefully I’m allowed to share without a paywall.

It’s concluding that the oil sector will likely see M&A….. lots cash sloshing around.

https://giftarticle.ft.com/giftarticle/actions/redeem/fe00a283-08c8-4270-8d33-4462d3c47964

You’ve held for years, you’ve been looking for an exit, it’s unnerving to ask what the price would be without a war. You sound confused 😕

Water utilities back in fashion….. looking forward to an update on affinity in what should be a decent set results for HICL

Well it’s interesting to note ofc that rising gas prices are not a US issue, in fact the opposite. As several posters on here have noted previously.

However we should see the benefit of the hedges taken in q3 and 4 (during high IS prices)when the results come in q1. Very difficult to work out the impact these will likely have. Positive but how positive? Anyone got a view? I’m also keen to see the flow through of acquisitions revenue. I remain pretty positive and am expecting to see some decent gains. Any the “war is over hurrah” dips an opportunity to buy?

As far as small shareholders go, it would be great. Previous attempts (TRIG) showed somewhat cynically what thw BOD think of small shareholders. INPP holders may balk at infrared fees mind you.

But what would there be to not like about a ftse 100 diversified pure infrastructure play I agree. Hope it happens one day

Feels an exciting time to buy or top up. Feels like the sp dropped but on a false belief that we will see a quick end to SoH, and equally that things will return to normal. Equally clearly some opacity in hedging and articles may have unnerved a few holders as well as traders taking profits. Maybe? Looking forward to some comms in May. I feel positive like you

Https://money-makers.co/2026/04/04/money-makers-podcast-04-apr-2026/

Not overly surprised tbh as there is a lot trading and volatility…. But do share your view, if you see some long term value, which I do, then its an opportunity to add but expect it’ll test the nerves

But it’s a can full of petrol with fires blazing all around. Trump hasn’t half caused himself a mid term nightmare….. can’t see the Israelis playing ball either. Do the Iranians now have Trump by the balls? And if so will they let go or just squeeze less lightly every now and again? I’d be more considering BP than EasyJet but who knows. It’s like Roulette

Sorry I thought I’d shared a free share but see someone else has been good enough.

The unhedged podcast I found particularly interesting. Persuaded me to hold tight as even the blue sky of the Iran mess leaves high prices, and it’s an unlikely scenario. And If we get the blue sky we see energy demand rising.