Ruffer Investment Director Duncan MacInness shares his investment strategy on the latest episode of Merryn Talks Money
Source: Getty Images
Sommer Saadi
Merryn Somerset Webb
Subscribe to Merryn Talks Money on Apple Podcasts
Subscribe to Merryn Talks Money on Spotify
During the Panic of 1907, J.P. Morgan came up with a clever plan to slow the ongoing bank run. He told his tellers to count all the money twice before handing it over. The more time paying out the cash took, the more time there was to work on rebuilding confidence before money ran out.
Of course, that kind of tactic can’t work anymore, Ruffer Investment Director Duncan MacInnes explained on this week’s Merryn Talks Money. Now, he says, people can use the internet to move money anywhere anytime in the blink of an eye, a fact the world witnessed in real time last month. “This,” MacInnes says, was “not your grandfather’s bank run.”
