Wallace Forbes of Forbes interviewed Kenneth Fisher in late part of February.
Fisher think 2011 will be a year of stock selection, unlike in the previous two years in which things tends to move up or down together. As he put it:
In the interview, Fisher mentioned he likes Pfizer, Bristol Meyers, Colgate-Palmolive, and Symantec:
Fisher advises investors always diversify into international names, and international turmoil that just happened in the Mideast just does not change his mind.
Read the whole thing here.
Fisher think 2011 will be a year of stock selection, unlike in the previous two years in which things tends to move up or down together. As he put it:
Now, I think we’ve returned to a world in which we see a growing dispersion of returns among and within categories. And the correlations fall. Picking becomes much more important than it has been – the picking of categories and also the picking of sub-categories and individual stocks.
In the interview, Fisher mentioned he likes Pfizer, Bristol Meyers, Colgate-Palmolive, and Symantec:
Yes, I’m specifically suggesting Pfizer and Bristol-Meyers.
At the same time, in the last few years, consumer staple stocks have lagged, because they aren’t particularly economically sensitive, and the things that did well in 2009 and 2010 were the things that are more economically sensitive. But I think as this year progresses, we will move into a year where people look for more quality and more ability to generate consumer-oriented growth. And that tends to come from the high end of consumer staples, not from consumer discretionary.
A stock there that I like, that hasn’t really gotten much juice lately, is ultra-high quality, Colgate-Palmolive. It’s not quite Proctor and Gamble, but P&G has more perceived quality; I think Colgate will get upgraded.
Finally, I’m going to mention one last U.S.-based stock, and that would be Symantec, from California. Symantec is basically the largest software-based security system company for computers. And this is effectively, for all intents and purposes, a play on capital equipment in a stock that is seen as a nice company but without a lot of growth potential. It’s selling at 11 times what I think it’ll earn this year. I think, as we look out into the future, it also will be seen not as a “Gee whiz” bubblicious growth company, but as something that has real solid growth potential in a world where people are more and more concerned about computer security.
Fisher advises investors always diversify into international names, and international turmoil that just happened in the Mideast just does not change his mind.
Read the whole thing here.
