John Ralfe
@johnralfe.bsky.social
Pensions. johnralfe@johnralfe.com
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John Ralfe
@johnralfe.bsky.social
· Apr 11
Are equities ‘always’ better in the long term?
For most 20-year outcomes, equities will certainly beat boring bonds, but there are many where they will lose
on.ft.com
Are equities ‘always’ better in the long term? - on.ft.com/4i8VKt6 My latest FT piece. "Why won't firms pushing the "equities always outperform in the long run" mantra put their money where there mouth is, & offer a cheap guaranteed equity product?
Reposted by John Ralfe
Reposted by John Ralfe
Just to be clear:
- Paracetamol does not cause autism.
- Sadiq Khan is not introducing Sharia law in the UK
- We do not have a massive free speech problem here.
- Britain is not on the verge of civil war.
These are not controversial subjects or contested, they're just not true.
- Paracetamol does not cause autism.
- Sadiq Khan is not introducing Sharia law in the UK
- We do not have a massive free speech problem here.
- Britain is not on the verge of civil war.
These are not controversial subjects or contested, they're just not true.
September 23, 2025 at 5:30 PM
Just to be clear:
- Paracetamol does not cause autism.
- Sadiq Khan is not introducing Sharia law in the UK
- We do not have a massive free speech problem here.
- Britain is not on the verge of civil war.
These are not controversial subjects or contested, they're just not true.
- Paracetamol does not cause autism.
- Sadiq Khan is not introducing Sharia law in the UK
- We do not have a massive free speech problem here.
- Britain is not on the verge of civil war.
These are not controversial subjects or contested, they're just not true.
Reposted by John Ralfe
What’s gone wrong for WHSmith? on.ft.com/4lHE0H8
What’s gone wrong for WHSmith?
We don’t know. But we’re prepared to take a guess
on.ft.com
August 21, 2025 at 11:43 AM
What’s gone wrong for WHSmith? on.ft.com/4lHE0H8
Reposted by John Ralfe
The stronger likelihood is that this summit is more likely to be the geopolitical equivalent of a loud farting noise that causes much embarrassment before everyone moves on
With all the talk of Yalta Mk 2 in the run-up to the Trump-Putin summit, it’s worth noting one big difference: in Jan 45, Soviet troops had occupied almost all of pre-war Poland. In terms of the future of Poland, US/UK faced a fait accompli rather than a negotiation. Putin occupies 20% of Ukraine.
August 13, 2025 at 4:51 PM
The stronger likelihood is that this summit is more likely to be the geopolitical equivalent of a loud farting noise that causes much embarrassment before everyone moves on
Reposted by John Ralfe
Extraordinary that anyone gives creedence to Osborne’s views on economics. Clearly thinks he knows more than Bailey about financial stability.
August 4, 2025 at 10:31 AM
Extraordinary that anyone gives creedence to Osborne’s views on economics. Clearly thinks he knows more than Bailey about financial stability.
I have just had to verify my age for DMs here...
July 29, 2025 at 8:06 PM
I have just had to verify my age for DMs here...
Reposted by John Ralfe
As Stephen Yaxley Lennon's public profile continues to rise, so do the chances of this Graham Keyes cartoon coming true each time TRB goes out on tour...
July 29, 2025 at 11:01 AM
As Stephen Yaxley Lennon's public profile continues to rise, so do the chances of this Graham Keyes cartoon coming true each time TRB goes out on tour...
See p12 of PrivateEye HP sauce on Rachel Reeves Mansion House Speech. My contribution on Alastair King's claims about the wonders of private equity = his numbers were "the usual wishful thinking from people who want to charge retail investors an arm and a leg".
July 29, 2025 at 9:30 AM
See p12 of PrivateEye HP sauce on Rachel Reeves Mansion House Speech. My contribution on Alastair King's claims about the wonders of private equity = his numbers were "the usual wishful thinking from people who want to charge retail investors an arm and a leg".
Just been on Times Radio with Kate McCann talking about increasing the SPA, getting rid of the Triple Lock and public sector pensions
July 22, 2025 at 6:32 AM
Just been on Times Radio with Kate McCann talking about increasing the SPA, getting rid of the Triple Lock and public sector pensions
Reposted by John Ralfe
On the 36th anniversary of Mel Blanc's passing, a classic.
The time he went on Letterman in 1982. Within a minute, he did not disappoint.
The time he went on Letterman in 1982. Within a minute, he did not disappoint.
July 11, 2025 at 12:20 AM
On the 36th anniversary of Mel Blanc's passing, a classic.
The time he went on Letterman in 1982. Within a minute, he did not disappoint.
The time he went on Letterman in 1982. Within a minute, he did not disappoint.
"If Rachel ReevesMP wants to risk our pensions, she should start with her own" telegraph.co.uk/money/pensions… See my latest Telegraph piece on TPRgovuk conflict of interest in last week's newly minted regulatory policy
https://telegraph.co.uk/money/pensions…
July 2, 2025 at 8:03 AM
"If Rachel ReevesMP wants to risk our pensions, she should start with her own" telegraph.co.uk/money/pensions… See my latest Telegraph piece on TPRgovuk conflict of interest in last week's newly minted regulatory policy
Reposted by John Ralfe
Dressing up or giving up? The heatwave trials of commuter clothing https://on.ft.com/3GdMWW3 | opinion
Dressing up or giving up? The heatwave trials of commuter clothing
Londoners are attempting to adapt their wardrobes to a sweltering Tube journey, with mixed results
on.ft.com
June 30, 2025 at 3:06 PM
Dressing up or giving up? The heatwave trials of commuter clothing https://on.ft.com/3GdMWW3 | opinion
Reposted by John Ralfe
On June 21, 1948, Columbia Records introduced the long-playing (LP) record album at a press conference held at the Waldorf-Astoria Hotel in New York City.
June 21, 2025 at 6:30 PM
On June 21, 1948, Columbia Records introduced the long-playing (LP) record album at a press conference held at the Waldorf-Astoria Hotel in New York City.
Reposted by John Ralfe
Buried deep in the BBC iplayer is this gorgeous film with Martin Scorsese talking about Powell and Pressburger. His commentary is beautiful, insightful and really moving. Recommend it. www.bbc.co.uk/iplayer/epis...
Made in England: The Films of Powell and Pressburger
Eminent American film-maker Martin Scorsese shares his lifelong love affair with the films of Powell and Pressburger.
www.bbc.co.uk
June 21, 2025 at 8:31 PM
Buried deep in the BBC iplayer is this gorgeous film with Martin Scorsese talking about Powell and Pressburger. His commentary is beautiful, insightful and really moving. Recommend it. www.bbc.co.uk/iplayer/epis...
theguardian.com/business/2025/jun/07/pensions-report-cuts-rachel-reeves-planned-growth-funds-from-160bn-to-11bn?CMP=share_btn_url
@theguardian.com article based on my analysis on behalf of PIC. See my quotes
@theguardian.com article based on my analysis on behalf of PIC. See my quotes
Pensions report cuts Reeves’ planned growth funds from £160bn to £11bn
Chancellor had anticipated surpluses from final salary schemes would boost investment in UK economy
theguardian.com
June 8, 2025 at 6:39 AM
theguardian.com/business/2025/jun/07/pensions-report-cuts-rachel-reeves-planned-growth-funds-from-160bn-to-11bn?CMP=share_btn_url
@theguardian.com article based on my analysis on behalf of PIC. See my quotes
@theguardian.com article based on my analysis on behalf of PIC. See my quotes
"Hello darkness, my old friend"
June 5, 2025 at 8:23 AM
"Hello darkness, my old friend"
telegraph.co.uk/money/pensions/state-pensions/reforms-attack-public-sector-pensions-doesnt-far-enough/ See my latest piece, on MPs' pensions with name checks to Rachel Reeves, Dame Meg Hillier, Dame Harriet Baldwin , @richardtice.bsky.social @nigelfarage1.bsky.social
Reform’s attack on public sector pensions doesn’t go far enough
I doubt Farage will be rushing to agree a complete overhaul of the unfair system
telegraph.co.uk
June 4, 2025 at 9:40 AM
telegraph.co.uk/money/pensions/state-pensions/reforms-attack-public-sector-pensions-doesnt-far-enough/ See my latest piece, on MPs' pensions with name checks to Rachel Reeves, Dame Meg Hillier, Dame Harriet Baldwin , @richardtice.bsky.social @nigelfarage1.bsky.social
EVERYONE should read this
Buffett's retirement has so moved @robinwigglesworth.ft.com that he's made a chapter of his book free-to-read: on.ft.com/4jSKouM
Buffett’s bet of the century
How the Oracle of Omaha embarrassed his own industry
on.ft.com
May 6, 2025 at 2:00 PM
EVERYONE should read this
Didn't you have 5 years as pensions minister to tackle this problem?
A round-up here of the new figures on state pension underpayments - we're heading for well over £1 billion repaid to over 130,000 people, mostly women: www.pensionsage.com/pa/Over-800m...
Over £800m paid to address state pension underpayments
The Department for Work and Pensions (DWP) had repaid £804.7m to individuals impacted by historical state pension underpayments as of 31 March 2025, having identified 130,948 underpayments
www.pensionsage.com
April 27, 2025 at 8:53 PM
Didn't you have 5 years as pensions minister to tackle this problem?
Reposted by John Ralfe
Fact-check: no they won’t, no they aren’t, no it won’t and no it isn’t.
April 27, 2025 at 2:06 PM
Fact-check: no they won’t, no they aren’t, no it won’t and no it isn’t.
Reposted by John Ralfe
At this point Steve Witkoff at meetings with Putin comes across as one of those socially desperate hedge fund billionaires willing to pay 10 million dollars for Beyonce to sing at their nephew's wedding
April 25, 2025 at 12:07 PM
At this point Steve Witkoff at meetings with Putin comes across as one of those socially desperate hedge fund billionaires willing to pay 10 million dollars for Beyonce to sing at their nephew's wedding
Reposted by John Ralfe
FT comment section still undefeated:
April 22, 2025 at 12:51 PM
FT comment section still undefeated:
The problem with wealth taxes - on.ft.com/4iqdSyX via @FT very interesting by @philipcoggan.bsky.social As I have said before, the BMA has a de facto veto on pension tax policy - many of their members have very large public sector pensions - so no government will ever levy a wealth tax on pensions
The problem with wealth taxes
Taxing the rich is a tantalising prospect for the cash-strapped UK government — but imposing a levy that is both fair and effective is fraught with difficulty
on.ft.com
April 18, 2025 at 8:18 AM
The problem with wealth taxes - on.ft.com/4iqdSyX via @FT very interesting by @philipcoggan.bsky.social As I have said before, the BMA has a de facto veto on pension tax policy - many of their members have very large public sector pensions - so no government will ever levy a wealth tax on pensions
Reposted by John Ralfe
Worth a read if you have the FT - be wary of claims that shares always outperform the long run
Are equities ‘always’ better in the long term? - on.ft.com/4i8VKt6 My latest FT piece. "Why won't firms pushing the "equities always outperform in the long run" mantra put their money where there mouth is, & offer a cheap guaranteed equity product?
Are equities ‘always’ better in the long term?
For most 20-year outcomes, equities will certainly beat boring bonds, but there are many where they will lose
on.ft.com
April 11, 2025 at 4:10 PM
Worth a read if you have the FT - be wary of claims that shares always outperform the long run