KEN FISHER: THE BULL MARKET IS JUST BEGINNING
30 March 2010 by Cullen Roche
11 Comments
Investment guru and billionaire investor Kenneth Fisher says the bull market is only just getting started and will climb a classic wall of worry:
Source: Bloomberg TV
He lost me a while back when he said basically that what ails this country is not TOO MUCH debt, but TOO LITTLE.
http://www.businessinsider.com/henry-blodget-ken-fisher-too-much-debt-we-need-more-debt-2009-9
Fisher is a perma bull – he never so the crash coming:
http://caps.fool.com/Blogs/ViewPost.aspx?bpid=12148&t=01004553487438585767
I love the comment from Fisher calling Faber’s and Roger’s concern about the credit crunch as “nonsense” saying its “silly stuff”!
Yeah, missing the credit crisis and calling it benign the whole way down was just disastrous. Makes it very hard to believe anything he says….
Go read Fisher’s book, The Only Three Questions That Count. In every argument, he throws out data during the Great Depression because he argues that it will never happen again. That kind of analysis clearly indicates the buy the dips mentality his career has been built on.
If Ken was as good an investor as he is a marketer, then I’d listen, but I think Ken’s main goal is to sell, sell, sell and enrich himself with fees we pay him. He is a perma-bull which makes selling easier. It’s the same reason we the public fall for politicians’ false promises that we can get something of great value by voting for them. If it was that easy, we’d live in utopia and all of us would be rich. I’d like to be wrong for his client’s sake.
TPC, this guy Fisher is an idiot. Sure, the market might go up for a while but of course it could crash too. He doesn’t understand the first thing about risk management and is living in the 1982-2000 bubble. A lot of these big guys were “raised” during that era and don’t have the imagination for a 20 year stall. How does he explain Japan, for example?
I’d like to an idiot with 1.4B dollars! He appears to be a case of a great salesman and average investor….
I had money with Fisher for 5 years, bull and bear market. He never outperformed the benchmark.
How come no one is gunning the futures tonight? Must be waiting for the market to open.
Just came across TPC and was wondering what you guys are thinking? Fisher has a great track record (sure 2008 wasn’t great but his 2009 calls have more than made up for 08). Take a look at his Forbes picks this year, they have been superb …
Some of you have been referencing fool… take a look at Fisher vs the MSCI World.
Vanessa
I have to agree with Vanessa -
Maybe you guys don’t have a long enough time frame – Ken Fisher was bearish in the 2000-2002 time frame and bearish in the bear before this. Maybe he didn’t see the last one but I don’t think that makes him a perma bull – you can read about that in Forbes.
He didn’t become a columnist in Forbes and stay there for the past 25 years by being wrong.
~~Dianne