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Ken Fisher Forbes Column: This should be a great time to own stocks

January 15, 2010

This should be a great time to own stocks. But we forget long-term lessons and think about the recent past.

When I started in this industry, 38 years ago, firms like Disney and DuPont ( DD - news - people ) sold at 40 times earnings. These were "one decision" stocks--supposedly so reliable that you could buy them and just put them away in a safe deposit box forever. This era of glamour stock investing was followed by a decade of negative returns. And then, just as most Americans had given up on stocks, there began an almost unparalleled 18-year run for stocks.

Buy [b]Enersis ( ENI - news - people ) ([/b]ENI, 21), LAN Airlines (LFL, 16), China Eastern Airlines (CEA, 36), United Microelectronics (UMC, 3.4), [b]Manpower ( MAN - news - people )'s ([/b]MAN, 56).

Read the complete column

Rating: 3.7/5 (6 votes)


Dealraker - 7 years ago    Report SPAM
Ken Fisher is a self promoting idiot.
Eddie - 7 years ago    Report SPAM

he may very well like to promote himself and his firm...but someone who is worth more than a billion dollars can't be an idiot, can he?

in any case I would love to be a billion dollar idiot.

Cm1750 - 7 years ago    Report SPAM

My problem with Ken (besides his smug attitude) is that he is always bullish and he admitted he was too bullish in 2008 in the article. This constant bullish stance also helps him keep his clients. His firm is basically a marketing company, often preying on the uninformed.

In addition, he has shown no methodology to outperform the market, as shown by his only mutual fund (he does not disclose results of privately-managed portfolios).

I can get cheerleading by watching CBNC, so what value does he add?

When Jeremy Grantham says it will be a lean 7 years in U.S. equities (except for quality blue chips), I take his view more seriously than that of Ken Fisher the charlatan. Grantham is not selling anything, and has shown no bias in the past - he just looks at the facts without emotion.
Batbeer2 premium member - 7 years ago
....but someone who is worth more than a billion dollars can't be an idiot, can he?

I wonder how much his father left him.
Yabz - 7 years ago    Report SPAM
Ken may be a billionaire but I wonder how many of his clients are? Probably not many...unless they started off as trilliionaires....

Mitchmitch - 7 years ago    Report SPAM
Actually, PURIX does beat it's benchmark the MSCI world stock index by about 2% a year on average ver the last ten years and the S&P 500 by more. So, by by cm1750's standard, that does show Fisher has a "methodology to outperform the market," if you are using the mutual fund as evidence. It's easy to fact check these things. You can see on Morningstar for example.

Seaniemac - 7 years ago    Report SPAM
Fisher isn't aways bullish. He was bearish in 87, 90 and 01 and 02

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