Posts Tagged ‘Ken Fisher’

Billionaire Ken Fisher Explains His Biases

Billionaire Ken Fisher Explains His Biases

Courtesy of Mish 

Ken Fisher says high levels of pessimism are a reason to buy stocks. Please consider Kenneth Fisher Recommends Stocks as Pessimism Surges.

Rising levels of investor pessimism are a reason to buy equities now, billionaire Kenneth Fisher said today.

“I’m never going to be bearish when people are pessimistic,” Fisher, who oversees $35 billion from Woodside, California, said in an interview on “Bloomberg Surveillance” with Tom Keene. “My bias when pessimism is high is to own equities.”

Explaining Ken Fisher’s Bias

Ken Fisher’s bias is to own stocks come hell or high water. Fisher’s recommendations have as much to do with optimism or pessimism as the planet Pluto does with an octopus.

Fisher makes money being perpetually bullish on equities. It certainly helps that Fisher peddles advice that people and pension funds want to hear.

It is amazing how much money one can make mismanaging money in conjunction with a remarkably successful advertising program.

Addendum

Flashback February 26, 2007
Housing Boom!

For months now the debate has been over whether America will have a hard landing or soft landing, the answer hinging on how big 2007′s housing disaster turns out to be. Well, there won’t be any housing disaster. We won’t have a landing at all, soft or hard. Right now the U.S. and global economies are both accelerating.

The consensus forecast is for single-digit S&P 500 earnings growth tied to a slowing economy. Disbelieve it. Experts’ forecasts have been too low for four years and will be now. First, the accelerating economy will deliver earnings that exceed expectations.

This is a time to own stocks. Here are some companies that will participate in the prosperous economy of 2007:

Home builder Pulte Homes – PHM
Toll Brothers – TOL
Beazer Homes – BZH

Absurdities

Look – Anyone can be wrong, but quite frankly that is absurdly wrong.

Pulte Homes was $34 then. It is $8 now.
Toll Brothers was $34 then. It is $16 now.
Beazer Homes was $44 then. It is $3.75 now.

Someone let me know if he ever issued a sell signal on those.

Regardless, Ken Fisher is consistently bullish. In fact he HAS to be bullish because you cannot manage $35 billion without being bullish. Ken Fisher’s advice is designed to do one thing – make money for Ken Fisher.

Mike "Mish" Shedlock

Photo from Psychology Today.


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Henry Blodget vs. Ken Fisher “We Need More Debt”

Is Ken Fisher talking his book, or as Henry Blodget believes, simply nuts? – Ilene

Henry Blodget vs. Ken Fisher "We Need More Debt"

Courtesy of Mish

Numerous people sent me a link to a preposterous statement by fund manager Ken Fisher regarding debt. Please consider Too Much Debt? Please. We Need MORE Debt, Says Ken Fisher.

The conventional wisdom is that Americans are struggling to crawl out from under a mountain of debt that will restrain growth and weigh down the economy for decades.

As [the following] chart shows, the US debt-to-GDP ratio recently soared to an all time high of 370%, meaning that for every $1 of output we produce, we have borrowed $3.70. This compares to a long-term debt-to-GDP average of about 150%.

click on chart for sharper image

Last time we went on a massive debt binge, in the 1920s, our debt-to-GDP ratio hit a relatively mild 250%, and we spent the better part of two decades (and the Great Depression) working it off. Many economists think the same thing will happen this time around.

But they’re wrong, says Ken Fisher, CEO of Fisher Investments ($35 billion under management), in a wildly contrarian view.

The U.S. has too little debt, not too much, Fisher says. The U.S.’s return on assets is high and interest rates are low, so our borrowing capacity is much higher than our current debt levels.

Also, Fisher says, you have to look at the U.S. in the context of the world, because the U.S. is only 25% of world GDP. The world is way under-leveraged, so one country’s particular debt-to-GDP ratio doesn’t matter.

Inquiring minds will want to play the accompanying video 

The idea that we need more debt is ludicrous. Consumers cannot service the levels of debt they have right now. This has increased defaults, foreclosures, bankruptcies, credit card writeoffs, and horrendous commercial real estate problems.

In the Business Insider Money Game Henry Blodget came to the conclusion, Ken Fisher is nuts.
 

We had Ken Fisher on TechTicker yesterday. Ken has managed money for nearly 40 years, and now has $35 billion of assets under management.

You make the big money on Wall Street when you hold a view that is so contrarian that most people think you are nuts. So Ken’s argument certainly merits consideration.


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Zero Hedge

40 Shipping Containers Adrift Off US Pacific Coast After Vessel Hit By Rough Seas 

Courtesy of ZeroHedge View original post here.

The global supply chain is more snarled than ever, forcing container ships to stack truck-size intermodal containers to the brim in a technique called containerization. The more shipping containers loaded up on a vessel, the more prone i...



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Phil's Favorites

Leveling the Playing Field With Cloud Gaming

 

Leveling the Playing Field With Cloud Gaming

Everyone Needs Access To Games

Courtesy of Reed Berkowitz at CuriouserInstitute

A friend of mine noticed something interesting. His teen was playing a game online with a group of other kids, but no one was actually “playing.” The characters were just kind of standing around chatting with each other as the game went on without them. The game had become secondary to the conversation. He mentioned it in our group chat and everyone with teens had noticed something similar. We had all seen our kids chatting on Discord or some other software and hanging out in-game.

It turns out that, without much fanfare, gaming has become one ...



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Politics

Trump wants the National Archives to keep his papers away from investigators - post-Watergate laws and executive orders may not let him

 

Trump wants the National Archives to keep his papers away from investigators – post-Watergate laws and executive orders may not let him

Nixon resigned after tapes he had fought making public incriminated him in the Watergate coverup. Bettmann/Getty

Courtesy of Shannon Bow O'Brien, The University of Texas at Austin College of Liberal Arts

The National Archives is the United States’ memory, a repository of artifacts that includes everything from half-fo...



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Biotech/COVID-19

An infectious disease expert explains new federal rules on 'mix-and-match' vaccine booster shots

 

An infectious disease expert explains new federal rules on ‘mix-and-match’ vaccine booster shots

Discuss with your doctor whether or not you need a booster – and if so, which vaccine will work best for you. Justin Sullivan/Getty Images News via Getty Images

Courtesy of Glenn J. Rapsinski, University of Pittsburgh Health Sciences

Many Americans now have the green light to get a COVID-19 vaccine booster – and the flexibility to receive a different brand than the ori...



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Digital Currencies

Bitcoin: why its value has rocketed once again

 

Bitcoin: why its value has rocketed once again

Shutterstock/rzoze19

Courtesy of Andrew Urquhart, University of Reading

Bitcoin’s journey into mainstream finance has reached another major milestone – and another record price. The cryptocurrency was trading at US$66,975 (£48,456) following the launch of an exchange traded fund (ETF) in the US w...



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Chart School

Price and Volume Swing Analysis on Bitcoin and Silver

Courtesy of Read the Ticker

Many take guidance from news, pundits or advisors. Well sometimes the swings of price and volume are a better measure of what happens next.

The big boys do not accumulate or distribute in single 1 second trade, they build positions over weeks, months and years. They use price swings in the market to build or reduce positions, and you can see their intent by studying swings of price and volume and applying Tim Ord logic as written in his book called 'The Secret Science of Price and Volume: Techniques for Spotting Market Trends, Hot Sectors, and the Best Stocks'.

Tim Ord is a follower of Richard Wyckoff logic, his book has added to the studies of Richard Wyckoff, Richard Ney and Bob Evans.

Richard Wyckoff after years of...

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Promotions

Phil's Interview on Options Trading with TD Bank

TD Bank's host Bryan Rogers interviewed Phil on June 10 as part of TD's Options Education Month. If you missed the program, be sure to watch the video below. It should be required viewing for anyone trading or thinking about trading using options. 

Watch here:

TD's webinar with Phil (link) or right here at PSW

Screenshots of TD's slides illustrating Phil's examples:

 

 

&n...



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Kimble Charting Solutions

Crude Oil Cleared For Blast Off On This Dual Breakout?

Courtesy of Chris Kimble

Is Crude Oil about to blast off and hit much higher prices? It might be worth being aware of what could be taking place this month in this important commodity!

Crude Oil has created lower highs over the past 13-years, since peaking back in 2008, along line (1).

It created a “Double Top at (2), then it proceeded to decline more than 60% in four months.

The countertrend rally in Crude Oil has it attempting to break above its 13-year falling resistance as well as its double top at (3).

A successful breakout at (3) would suggest Crude Oil is about to mo...



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ValueWalk

Managing Investments As A Charity Or Nonprofit

By Anna Peel. Originally published at ValueWalk.

Maintaining financial viability is a constant challenge for charities and nonprofit organizations.

Q4 2020 hedge fund letters, conferences and more

The past year has underscored that challenge. The pandemic has not just affected investment returns – it’s also had serious implications for charitable activities and the ability to fundraise. For some organizations, it’s even raised doubts about whether they can continue to operate.

Finding ways to generate long-term, sustainable returns for ...



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Mapping The Market

Suez Canal: Critical Waterway Comes to a Halt

 

Suez Canal: Critical Waterway Comes to a Halt

Courtesy of Marcus Lu, Visual Capitalist

The Suez Canal: A Critical Waterway Comes to a Halt

On March 23, 2021, a massive ship named Ever Given became lodged in the Suez Canal, completely blocking traffic in both directions. According to the Suez Canal Authority, the 1,312 foot long (400 m) container ship ran aground during a sandstorm that caused low visibility, impacting the ship’s navigation. The vessel is owned by Taiwanese shipping firm, Evergreen Marine.

With over 2...



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The Technical Traders

Adaptive Fibonacci Price Modeling System Suggests Market Peak May Be Near

Courtesy of Technical Traders

Our Adaptive Fibonacci Price Modeling system is suggesting a moderate price peak may be already setting up in the NASDAQ while the Dow Jones, S&P500, and Transportation Index continue to rally beyond the projected Fibonacci Price Expansion Levels.  This indicates that capital may be shifting away from the already lofty Technology sector and into Basic Materials, Financials, Energy, Consumer Staples, Utilities, as well as other sectors.

This type of a structural market shift indicates a move away from speculation and towards Blue Chip returns. It suggests traders and investors are expecting the US consumer to come back strong (or at least hold up the market at...



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Lee's Free Thinking

Texas, Florida, Arizona, Georgia - The Branch COVIDIANS Are Still Burning Down the House

 

Texas, Florida, Arizona, Georgia – The Branch COVIDIANS Are Still Burning Down the House

Courtesy of Lee Adler, WallStreetExaminer 

The numbers of new cases in some of the hardest hit COVID19 states have started to plateau, or even decline, over the past few days. A few pundits have noted it and concluded that it was a hopeful sign. 

Is it real or is something else going on? Like a restriction in the numbers of tests, or simply the inability to test enough, or are some people simply giving up on getting tested? Because as we all know from our dear leader, the less testing, the less...



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Insider Scoop

Economic Data Scheduled For Friday

Courtesy of Benzinga

  • Data on nonfarm payrolls and unemployment rate for March will be released at 8:30 a.m. ET.
  • US Services Purchasing Managers' Index for March is scheduled for release at 9:45 a.m. ET.
  • The ISM's non-manufacturing index for March will be released at 10:00 a.m. ET.
  • The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
...

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Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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