(GuruFocus, October 22, 2009) Kenneth Fisher is not a typical buy-and-hold and concentrated investor. His $30 billion portfolio is scattered among 488 stocks and in the past quarter, he bought 31 new names for his clients. I am always curious how he does his fundamental research.
Recently, Kenneth Fisher wrote a piece for Forbes entitled http://www.forbes.com/forbes/2009/1102/finance-wynn-resorts-viva-the-v-portfolio-strategy.html">”Viva the V” in which he predicted the market will rally another 20-25%. His reason?
It is not based on the value. As a matter of fact, Fisher pointed out that investors who are less bold are making a mistake by assuming market is rational. The market had a long (16 months) and deep (60%) downturn, so it is entitled to a long and steep rally, so argued Fisher.
Fisher is regular Forbes columnist. His articles can be find here.
At the end of Q3, 2009, top holdings of Ken Fisher include:
Fisher has holding over 20 million shares of EEM since 1Q07.
Fisher held more than 8 million shares of OXY since 1Q07.
Since 1Q07, Fisher held more than 5 million in his portfolio.
Since 1Q07, Fisher had more than 9 million shares of APC in his portfolio.
Since 1Q07, Fisher has had more than 8 million shares in his portofolio.
Fisher held more than 20 million shares of CSCO since 1Q08.
GuruFocus provides real time information and insights of Investment Gurus such as Warren Buffett and Kenneth Fisher for Premium Members. If you are not a premium member, click here to sign up or upgrade. 7-Day Free Trial is available.
Recently, Kenneth Fisher wrote a piece for Forbes entitled http://www.forbes.com/forbes/2009/1102/finance-wynn-resorts-viva-the-v-portfolio-strategy.html">”Viva the V” in which he predicted the market will rally another 20-25%. His reason?
It is not based on the value. As a matter of fact, Fisher pointed out that investors who are less bold are making a mistake by assuming market is rational. The market had a long (16 months) and deep (60%) downturn, so it is entitled to a long and steep rally, so argued Fisher.
Fisher is regular Forbes columnist. His articles can be find here.
At the end of Q3, 2009, top holdings of Ken Fisher include:
No. 1: iMCSI Emerging Markets Index Fund (EEM), Weightings: 2.99% - 22,913,195 Shares
Imcsi Emerging Markets Index Fund has a market cap of $33.68 billion; its shares were traded at around $40.76 . The dividend yield of Imcsi Emerging Markets Index Fund stocks is 1.3%.Fisher has holding over 20 million shares of EEM since 1Q07.
No. 2: Occidental Petroleum Corp. (OXY, Financial), Weightings: 2.18% - 8,286,192 Shares
Occidental Petroleum Corp. explores for develops produces and markets crude oil and natural gas and manufactures and markets a variety of basic chemicals including chlorine caustic soda and ethylene dichloride as well as specialty chemicals and vinyls including polyvinyl chloride resins and vinyl chloride monomer. Occidental conducts its principal operations through its oil and gas and chemical subsidiaries. Occidental Petroleum Corp. has a market cap of $61.79 billion; its shares were traded at around $81.55 with a P/E ratio of 14.4 and P/S ratio of 2.6. The dividend yield of Occidental Petroleum Corp. stocks is 1.7%. Occidental Petroleum Corp. had an annual average earning growth of 17% over the past 10 years. GuruFocus rated Occidental Petroleum Corp. the business predictability rank of 2.5-star.Fisher held more than 8 million shares of OXY since 1Q07.
No. 3: Siemens Aktiengesellschaft (SI, Financial), Weightings: 2.03% - 6,493,479 Shares
SIEMENS AG-ADR is the world's largest supplier of products systems solutions and services for industrial automation and building technology. Siemens Aktiengesellschaft has a market cap of $83.49 billion; its shares were traded at around $99.67 with a P/E ratio of 13.8 and P/S ratio of 0.7. The dividend yield of Siemens Aktiengesellschaft stocks is 1.7%. Siemens Aktiengesellschaft had an annual average earning growth of 16.1% over the past 5 years.Since 1Q07, Fisher held more than 5 million in his portfolio.
No. 4: Anadarko Petroleum Corp. (APC, Financial), Weightings: 2.03% - 9,616,093 Shares
Anadarko Petroleum Corporation is one of the world's largest independent oil and gas exploration and production companies.. Anadarko Petroleum Corp. has a market cap of $28.79 billion; its shares were traded at around $66.22 with a P/E ratio of 68.3 and P/S ratio of 1.9. The dividend yield of Anadarko Petroleum Corp. stocks is 0.6%. Anadarko Petroleum Corp. had an annual average earning growth of 28% over the past 10 years. GuruFocus rated Anadarko Petroleum Corp. the business predictability rank of 3.5-star.Since 1Q07, Fisher had more than 9 million shares of APC in his portfolio.
No. 5: Credit Suisse Group (CS, Financial), Weightings: 1.98% - 10,576,882 Shares
Credit Suisse Group offers investment products private banking and financial advisory services as well as insurance and pension solutions. Credit Suisse Group has a market cap of $65.76 billion; its shares were traded at around $58.65 with and P/S ratio of 1.1. The dividend yield of Credit Suisse Group stocks is 0.1%. Credit Suisse Group had an annual average earning growth of 43.9% over the past 10 years. GuruFocus rated Credit Suisse Group the business predictability rank of 2-star.Since 1Q07, Fisher has had more than 8 million shares in his portofolio.
No. 6: Cisco Systems Inc. (CSCO, Financial), Weightings: 1.89% - 23,894,441 Shares
Cisco Systems Inc. is the worldwide leader in networking for the Internet. Cisco Systems Inc. has a market cap of $130.94 billion; its shares were traded at around $23.96 with a P/E ratio of 19.5 and P/S ratio of 3.7. Cisco Systems Inc. had an annual average earning growth of 17.1% over the past 10 years.Fisher held more than 20 million shares of CSCO since 1Q08.
Comments
Kenneth Fisher is very diversified (you can argue maybe too diversified), but his actually holds his top holdings for a long times.GuruFocus provides real time information and insights of Investment Gurus such as Warren Buffett and Kenneth Fisher for Premium Members. If you are not a premium member, click here to sign up or upgrade. 7-Day Free Trial is available.
