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He appears to be optimistic about some oil refiner stocks like Valero (VLO).
Previously, Fisher penned a piece for Bloomberg where he compared the U.S. to Ancient Rome:
"It's only a matter of time before the mechanism that has allowed the government to sustain its trade deficit for longer than it should have -- similar to the Asian dollar peg of the 1990s -- causes a simultaneous decline in the U.S. currency, asset prices and the economy.
Once people begin to realize that their paper currencies, stocks and bonds are all garbage, we can expect a meltdown.
Although it may be too early to predict an impending collapse in paper assets and an immediate need to acquire hard assets, it's clear that we've reached a turning point. The ship has begun to sink. As I await a global re-set of asset values and prices, I will continue to monitor the swelling federal and state tax revenue levels, the rising animosity between Main Street and Wall Street and the progress made by commodity-hungry nations as they continue to eat our lunch.
While I continue to hope for the best, it's far wiser to prepare for the worst."
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