In the July 2015 edition of Forbes, Fisher Investments CEO Ken Fisher suggests “look for normalcy and you’ll be better served.” Here a link to his latest article: Bet on the Bulls, Not the Sheep
Fisher Investments CEO Ken Fisher writes the “Portfolio Strategy” for Forbes magazine. He has written this article for 30+ years making him the 3rd-longest running author is Forbes’ 90+ year history.
Here’s his latest article about the upcoming presidential election and the effect the results may have on stocks: Hillary Clinton Stock Market Bets
Ken Fisher says ignore the masses to get ahead in his new book “Beat the Crowd” with Real Biz with Rebecca Jarvis.
As the Dow Jones Industrial hits a record 15,000, it’s time to take in the view, and read a little perspective from the folks at Fisher Investments – Matt Goldhaber, VP, Fisher Investments
The Dow crossed 15,000 earlier this week and headlines (seemingly on cue) bemoaned the disconnect between market highs and what’s so far been seemingly just ok economic growth. Others, too, chimed in with arguments justifying fears of new market highs and bubbles. Of course, we’ve panned the price-weighted Dow as a poor proxy for broader markets myriad times, but what of the S&P? It surpassed its past highs recently too—and broke through 1600 days later. Scary! But should it be?
Acrophobia—the fear of heights—is fairly common and has been around for a while. Not since we swung from the trees have most of us been good with heights. Our survival instinct kicks in and tell us high places, like mountain (or stock market) summits are bad places for us to be if we want to see tomorrow. With mountains, the fear is easily justified—our ability to independently sustain flight is pretty limited. With markets, the fear is a little harder to assess—it’s rooted in the fact we hate losses more than we love gains—myopic loss aversion. But markets, specifically bull markets, don’t share our earthbound proclivities. More often than not, they push past previous highs and keep rising for months and more frequently years—well-eclipsing past records. Was the S&P “too high” when it regained its prior peak of 370 on March 1, 1991? Or when it surpassed 142 on November 3, 1982? Of course not. Hindsight gives us perspective, and those two bulls ran for about nine and five more years, respectively, setting dozens of new highs along the way. The index level—record high or no—isn’t predictive of anything. It’s just a number. But foresight requires us to question market acrophobia and fears squawked about in headlines with a little more scrutiny to determine where the market’s headed. Full Story: http://www.marketminder.com/a/fisher-investments-assessing-acrophobia/26d0f098-4407-4140-a3bc-1333c2c877b8.aspx
Todd Bliman, editor at Fisher Investments MarketMinder, takes a good look at Ben Bernanke’s quantitative easing program and its effects on the economy and lending. – Matt Goldhaber, VP, Fisher Investments
QE’s Theoretical Foible in One Lesson
In every trade, there’s a buyer and a seller. Similarly, in every loan, there’s a borrower (debtor) and a lender (creditor)—a pretty basic lesson, to be sure. But it’s one that’s often overlooked in discussion of what the Fed calls its “extraordinarily accommodative monetary policy“—essentially, quantitative easing (QE). Understanding this clearly is key to assessing the outcome of a potential end to QE.
For the better part of the last five years, Fed Chairman Ben Bernanke’s stated mission has been to pin borrowing costs low—providing, in his view, an economic stimulus by making borrowing cheaper. Bernanke seems to believe the animal spirits (or confidence) of the borrowing public need to be stirred. He figures cheap money is the elixir to awaken the urge, financing home purchases, promoting business investment and spurring consumption in general. And, in part due to his efforts, money is cheap! Ten-year government bond rates are presently 1.86% (as of March 28, 2013) and 30-year conventional mortgages will run you a paltry 3.94% today. That latter figure means a $1,000 monthly principal and interest mortgage payment will support a loan nearly three times larger today than it did in the early 1980s. Read More At Investor’s Business Daily: http://news.investors.com/investing-fisher-investments/040113-649909-qes-theoretical-foible-in-one-lesson.htm#ixzz2PtEqq3Tn
Learn what Forbes columnist and Fisher Investments CEO Ken Fisher has to say about 2013: – Matt Goldhaber, Vice President, Fisher Investments
By Ken Fisher, Forbes.com, 1/23/2013
This story appears in the January 21, 2013 issue of Forbes.
Negatives continue to abound. So why do I expect stocks to shine in 2013? Because I’m not a cow, I’m a bull. Let me explain: Most negatives you hear about are well known and widely discussed, digested and already priced into stocks