Fisher Investments News
|By Elisabeth Dellinger of Fisher Investments, Equities.com, 12/28/2012|
Twenty-three years after the Iron Curtain’s fall, there’s a new dividing line in Eastern Europe: A sharp contrast in quality of life between those nations where free markets and free society have flourished, and those where the state keeps an iron grip.
|By Ken Fisher, Forbes, 12/24/2012|
Believe it or not, I’m for fewer jobs, not more. Throughout 2012 we heard politicians and pundits of all stripes yammering endlessly on the need for job growth—that we don’t have enough jobs. It’s pure rubbish.
|By Fisher Investments, The Street, 12/20/2012|
As the U.S. draws ever-closer to the fiscal geological formation that is anything but a cliff, investors seem eager to handicap what might happen should politicians fail to find a workaround.
|By Lara Hoffmans, Forbes, 12/18/2012|
With fiscal cliff fears hitting a fevered pitch, I had the chance recently to sit down with Ken Fisher and query him on his views of this widespread investor concern.
|By Fisher Investments, The Street, 12/10/2012|
The debt ceiling debate seems to have returned from the dead. But as our boss Ken Fisher has said, what many folks miss is that the debt ceiling is a purely political (and arbitrary) machination. And it's one that members of Congress aren't terribly motivated to fix, so it's unlikely to kick the bucket anytime soon.
|By Michael Weston, Fisher Investments, InvestorPlace, 12/10/2012|
Mid-September’s announcement of the Fed’s now third round of quantitative easing was preceded by heated debate. Monetary hawks warned of the heightened risk of out-of-control inflation due to more Fed stimulus. Doves countered that the Fed should do more to stimulate the economy to lower a persistently high unemployment rate.
|By Ken Fisher, Forbes, 12/10/2012|
Says Fisher of the pharma stalwart, “It has near endless top-notch brand names, and a stream of new products will capture growth from an aging developed-world demographic plus new emerging middle classes overseas—all wrapped in a classically cheap stock.”
|By Editorial Staff, Investor’s Business Daily, 12/10/2012|
MarketMinder's View: This echoes a sentiment we’ve written about many times in the past—if you tax something, you’ll get less of it. Put simply, despite wildly variable marginal tax rates, the historical record shows US federal tax revenues tend to be quite stable. That said, we’re skeptical either party’s plan necessarily meets their “goal,” considering both hinge on long-range forecasts. For more, see our 10/01/2012 cover story, “Fiscal Cliff, Meet Fiscal Norm.”
|By Lara Hoffmans, Forbes, 12/08/2012|
Risk is paramount for most investors. And well it should! But I suspect, for many investors, risk and volatility are always and everywhere interchangeable. Volatility is a key risk—but it isn’t the only one (a point made in the latest book I co-authored with Ken Fisher, Plan Your Prosperity.) There are myriad risks investors should consider. For example, interest rate risk.
|By Lara Hoffmans, Forbes, 12/06/2012|
A key concern for many investors: If a fiscal cliff deal doesn’t happen soon, will higher corporate and dividend taxes hit retirees counting on dividend income particularly hard? A better question: If you need portfolio income, why are you relying on high dividends primarily? (A subject tackled in Plan Your Prosperity, the latest book I co-authored with Ken Fisher.)
|By Naj Srinivas, Fisher Investments, Investor's Business Daily, 12/03/2012|
Sunday, the autonomous Spanish region of Catalonia voted in snap-elections called by regional President Artur Mas. He, his Convergence and Union Party (CiU) and members of other separatist parties in the region hoped to use the elections to secure a mandate for independence from Spain, paving the way for a referendum on the issue.
|By Elisabeth Dellinger of Fisher Investments, Equities.com, 11/30/2012|
When UK Chancellor of the Exchequer George Osborne announced Mark Carney will succeed Sir Mervyn King as BOE chief next year, the surprise was universal: The Brits picked a Canadian?!
|By Fisher Investments, The Street, 11/30/2012|
While many were focused on China's changing leadership following last week's 18th National Party Congress, another far more subtle but potentially very impactful change also occurred: China's state-run media replaced bank lending with "total social financing" as its preferred lending indicator.
|By Ken Fisher, Financial Times, 11/30/2012|
Everyone fears America’s fiscal cliff, so don’t you dare. Others are already doing it for you for free, as a favour. So thank them.
|By Lara Hoffmans, Forbes, 11/29/2012|
The fiscal cliff will be of utmost importance! Politicians will be very serious about it. They’ll go on Sunday talk shows, write earnest op-eds, furrow brows and point fingers. They want it solved! They’re working on it! Those other people across the aisle are stalling. We’ve made proposals. They’ve rejected them. They hate the middle class. We love the middle class. Etc., etc.
|By Elisabeth Dellinger, Fisher Investments, Investor's Business Daily, 11/20/2012|
Of all the headwinds plaguing Japan's economy in recent years, one of the biggest is political uncertainty. Japan's had seven prime ministers in as many years, making it difficult for leadership to enact meaningful economic reform—something Japan could use in spades. And with the lower house of Parliament dissolved November 15 and a snap election now scheduled for December 16, the revolving doors may soon turn again.
|By Ken Fisher, Forbes, 11/19/2012|
Stock-market-wise, as we fade from this emotionally excessive election cycle, there are three things I want you to focus on. First, don’t believe too much in your political ideology relative to how the economy and markets will do. Most folks make that mistake. Those whose side loses typically see a dismal future. Don’t bet on it.
|By Lara Hoffmans, Forbes, 11/19/2012|
Politicking over the fiscal cliff has begun in earnest—highlighting the fact both sides now disavow the cliff (somehow forgetting it was entirely of their making).
|By Elisabeth Dellinger of Fisher Investments, Equities.com, 11/15/2012|
As South Korea’s presidential election campaign heats up, expect one rallying cry to dominate all others: “economic democratization.”
|By Todd Bliman, Fisher Investments, Investor's Business Daily, 11/14/2012|
If you're hunting for higher yields, be sure to watch your back.
|By Fisher Investments, The Street, 11/13/2012|
European and Asian leaders, including French President Francois Hollande, have urged one another to do what they can to free global trade, citing protectionism as a risk to the global economy. To that we say: Hear, hear!
|By Lara Hoffmans, Forbes, 11/08/2012|
The investor class seems particularly morose over a second Obama term. In their view, conventional wisdom is a Democrat is toxic for stocks. Naturally, Democrats will say the stock market always does better under a Democratic president.
|By Amanda Williams, Fisher Investments, Investor's Business Daily, 11/02/2012|
|By Fisher Investments, iStockAnalyst, 10/31/2012|
Friday's first estimate of US Q3 GDP showed growth of +2.0% in the quarter, an uptick from Q2's +1.3% rate, exceeding analysts' estimates. Under the hood, there were some stronger points and some weaker, but overall there's little here representing a sharp divergence from other recent reports.
|By Lara Hoffmans, Forbes, 10/31/2012|
With the election looming, both parties now clamor the “fiscal cliff” must be leveled—including President Obama who recently claimed the sequestration “will not happen." (How quick politicians forget this is a predicament of their making.)
|By Fisher Investments, The Street, 10/30/2012|
When China's new leaders take power in the coming months, they will face a Herculean task: Reforming the nation's bloated state-owned or controlled enterprises (SOEs). Or so vowed Wang Yong, head of China's State-Owned Assets Supervision and Administration Commission (SASAC), in an Oct. 24 address to China's bi-monthly legislative session.
|By Elisabeth Dellinger, Investor's Business Daily, 10/26/2012|
When it comes to China-related fears, two have dominated lately: The fear China's economy suffers a hard landing and takes the world down with it, and the fear China's economy will overtake the US's.
|By Lara Hoffmans, Forbes, 10/26/2012|
News stories in recent days have touted America’s recent surge in oil production, positing the US could produce more oil than Saudi Arabia by 2020.
|By Fisher Investments, The Street, 10/23/2012|
Simplicity and understanding are two cornerstones of successful long-term investing, yet it truly seems much of the investment industry hasn't grasped this, doesn't agree or otherwise prefers not to operate transparently.
|By Ken Fisher, Forbes, 10/22/2012|
Last month I introduced the notion of concentrating on only stocks larger than the global markets’ $80 billion average market capitalization. There are now only 70 such megacaps.
|By Elisabeth Dellinger of Fisher Investments, Equities.com, 10/17/2012|
In 2012, financial news has been dominated by Europe, China and the US—with the eurozone’s troubles, China’s economic wobbling and the US’s looming “fiscal cliff,” investors are hyper focused on these areas and how they could impact global stocks.
|By Fisher Investments, The Street, 10/11/2012|
Every four years, we're treated to the spectacle of two men jockeying for power in the world's most powerful nation -- and predictably, this involves ample fact-stretching and twisting. At Fisher Investments, we're politically agnostic: We prefer neither party over the other, finding much to dislike (and occasionally something to cheer) in both parties' policies and proposals.
|By Todd Bliman, Fisher Investments, Investor's Business Daily, 10/11/2012|
Dear reader, you may have made it this far—and thank you for that—but I'm not delusional enough to think you'll nod with me for long. Even if I temporarily possessed Hemingway's pen and Churchill's persuasion powers, you likely won't slide my way. You see, this is politics, and I'm repeatedly told this presidential election is critical. But in my view, it's less important to your portfolio than one tangential point I'll get to later. (Yeah, I know, you don't buy it. And you probably won't later, either.)
|By Lara Hoffmans, Forbes, 10/05/2012|
News to no one: Stock returns in the 2000s were overall flat—US stocks annualized -1% returns. Even today, over three years since the end of the recession and bear market, a popular media meme is because returns had been bad and we just had a big recession, America is headed into a “lost decade” of low market returns and poor growth.
|By Elisabeth Dellinger of Fisher Investments, 10/04/2012|
For the past few years, one question has puzzled UK economic policymakers: Why aren’t banks lending more? Or specifically, why haven’t the Bank of England’s (BOE) Asset Purchase Programme (quantitative easing), Project Merlin or the National Loan Guarantee Scheme significantly increased the amount banks lend to households and small businesses?
|By Fisher Investments, The Street, 10/02/2012|
This November, a very important election will take place. The result, many say, could determine the fate of one of the world's biggest regional economies.
|By Lara Hoffmans, Forbes, 10/01/2012|
New Jersey faces some tough issues. And not just being a ubiquitous punch line and those occasionally uncomfortably close-to-accurate Sopranos storylines.
|By Fisher Investments, Investor Place, 09/25/2012|
With fall setting in and the conventions over, the race to determine the president of the United States is in full swing. And weather patterns notwithstanding, it seems the amount of hot air is set to increase — a normal quadrennial occurrence as two candidates jockey for position.
|By Ken Fisher, Forbes, 09/24/2012|
In the second half of nearly every bull market you need only own bigger-than-average stocks to beat the market. By that, I mean market value north of $78 billion, which is the average market capitalization of stocks in the MSCI All Country World Index.
|By Lara Hoffmans, Forbes, 09/24/2012|
During elections, it’s not uncommon for presidential candidates to say they’ll “fix” the economy, and the opponent only wants to wreck it to enrich buddies, favored industries, and so on. Which rather implies the president has much more power than he actually has.
|By Elisabeth Dellinger, Investor’s Business Daily, 09/20/2012|
As the US's election draws nearer, I've seen more and more articles bemoaning the apparently unprecedented polarization of our great nation—Republicans and Democrats distrust each other like never before, Congress can't get anything done and neither Presidential candidate can seize popular momentum. And somehow, we're told, this is a worrisome development.
|By Fisher Investments, TheStreet.com, 09/19/2012|
As if it weren't hard enough to know if a politician means what he says. Now, they say what they mean.
|By Lara Hoffmans, Forbes, 09/18/2012|
Stocks love gridlock. Which is why election-year stock returns historically are above-average positive.
|By Lara Hoffmans, Forbes, 09/14/2012|
On Tuesday, Moody’s threatened to downgrade the US—if the US doesn’t plunge over the metaphorical cliff that is fiscal.
|By Lara Hoffmans, Forbes, 09/07/2012|
Included in the GOP 2012 platform (which, according to many politicians, no one reads) is a proposal to consider the feasibility of a “metallic basis for US currency” (read: gold standard)— music to the ears of gold standard fans.
|By Amanda Williams, Investor's Business Daily, 09/07/2012|
Control is an alluring temptress. We humans are notorious for attempting to maintain control over as many aspects of our lives as possible—our weight, the number of calories we consume (or don't), the number of friends we have on social media sites, how well-regarded our Twitter feed is and so on until we're micromanaging our own selves to the point of absurdity. Being humans (their protestations to the contrary aside), politicians are equally subject to such enticements.
|By Elisabeth Dellinger, Investor's Business Daily, 09/06/2012|
You won't find it on any top-10 lists, but to me, free trade belongs with Bill Buckner and Steve Bartman as one of the greatest scapegoats in modern times. Sure, free trade agreements never robbed anyone of a World Series title, but they've been pinned for more job losses and business woes than I can count—and, likely, far more than they should be.
|By Lara Hoffmans, Forbes, 08/30/2012|
One year after S&P downgraded America from its sterling AAA credit rating, across the board, Treasury rates are lower. Yes, that is the opposite of what most would generally expect.
|By Lara Hoffmans, Forbes, 08/24/2012|
The Republican National Convention starts Monday, and the Democrats follow suit next weekend—which means the campaign is officially under way.
So turn your hot-air detector on high. Here are three things both candidates will likely say (repeatedly) during this election cycle that have little grounding in reality.
|By Lara Hoffmans, Forbes, 08/17/2012|
As of yesterday, the S&P 500 (total return) breached its previous all-time high. Which may make this the most hated bull market of all time.
|By Elisabeth Dellinger, Real Clear Markets, 08/09/2012|
Leave it to California to get its financial scandal completely backwards.
In most places, a state funding scandal would involve money going missing. But here in my great state, alarm bells rang when officials discovered many departments had, well, too much money. An extra $2.3 billion, in fact--not exactly chump change in this cash-strapped state.
|By Lara Hoffmans, Forbes, 08/08/2012|
In the ongoing dust-up over the “fiscal cliff,” the Joint Committee on Taxation estimates the cost to extend the much-debated “Bush tax cuts” will be $54 billion in 2013.
|By Fisher Investments, The Street, 08/06/2012|
As PIIGS go, Spain and Italy have hogged headlines since July 26 when European Central Bank chief Mario Draghi suggested the bank may purchase Spanish and Italian debt to help ease borrowing costs.
|By Todd Bliman, Fisher Investments, InvestorPlace, 08/04/2012|
In recent weeks, there’s been an increasing din in media proclaiming stocks are either dead, dying or at least seriously infirm. Most often, the evidence provided that the end is near are comparisons of GDP growth and long-run equity market returns.
|By Lara Hoffmans, Forbes, 08/02/2012|
Frequently, you can hear (or read) that because stock returns have been, on average, materially higher than average US GDP growth rates, there’s a big disconnect and shouldn’t the two roughly match? Hence, doesn’t that mean a new era of long-term lousy stock returns must kick off, forthwith?
|By Ken Fisher, Forbes, 08/01/2012|
Here is some investing advice for a world with seemingly too many whiners. First, just shut up—if you’re upset, that is. It will help. Psychologists will tell you the opposite, that talking it out helps. Not with investing. The more you talk about investing problems, the worse you feel. Instead of complaining, it’s better to do something.
|By Lara Hoffmans, Forbes, 07/31/2012|
n a year there’s been much jaw-wagging over whether certain people do or don’t pay their “fair share” of taxes, you’d think the CBO’s latest report on the distribution of household income and taxes would garner more prime time.
|By Elisabeth Dellinger, Fisher Investments, Investor's Business Daily, 07/30/2012|
QE3. The mere mention of these three alphanumeric characters seems to have an almost narcotic effect on investors and commentators. The US is slowing, they argue, and only the Fed's magic money can get things moving again. Quantitative easing is our economic drug, and we need more, more, more.
|By Amanda Williams, Fisher Investments, InvestorPlace, 07/28/2012|
Plenty of editorial space has been dedicated lately to the dearth of fiscal stimulus measures being globally employed — and the overabundance of “austerity” measures, ostensibly referring to some countries’ mix of (typically) tax increases and government spending cuts.
|By Lara Hoffmans, Forbes, 07/25/2012|
President Obama is taking a lot of heat for you-didn’t-build-that-gate. Campaigns are marathons—politicians are giving 3 or 4 (or more) speeches a day—and every word taped and every sentence prone to get lifted and blasted, out of context, ad nauseum in your opponent’s ads (blogs, YouTube vids, etc.).
|By Lara Hoffmans, Forbes, 07/24/2012|
Another day, another op-ed about how high unemployment is a hindrance to economic growth.
|By Amanda Williams, Fisher Investments, Investor's Business Daily, 07/18/2012|
One frequent quibble I have with many economic commentators is they habitually underestimate both free markets' and individuals' power to solve the seemingly unsolvable—and overestimate the government's ability to do so, sans harmful side effects or unintended consequences.
|By Lara Hoffmans, Forbes, 07/17/2012|
Homebuyers rejoice! The Consumer Financial Protection Bureau (CFPB) has found a way to potentially make the mortgage application process very slightly incrementally less onerous.
|By Fisher Investments, The Street, 07/16/2012|
Slowing Chinese economic growth has been a prominent topic of concern for the better part of 2012.
|By Fisher Investments, InvestorPlace, 07/14/2012|
Evidently, France has discovered the secret to enhancing economic competitiveness: really, really high taxes!
Fourth longest-running columnist in Forbes magazine’s 95-year history celebrates another year.
|By Elisabeth Dellinger, Real Clear Markets, 07/11/2012|
Herman Van Rompuyhas a vision problem. Oh, I'm sure the good man-EU poet laureate, Belgian Prime Minister and European Council President-sees just fine through his eyeballs. But the quixotic ambitions in his recent proposal for a federalist eurozone suggest his mind's eye is a touch fuzzy. He seems to think he can help create the United States of Europe. But it won't work, at least as he envisions it.
|By Zeke Faux, Bloomberg, 07/10/2012|
Ratings companies, whose scores have helped determine the cost of money for governments and businesses for more than a century, are no longer trusted by the world’s biggest investors, according to the former head of structured finance at Standard & Poor's.
|By Lara Hoffmans, Forbes, 07/10/2012|
In the ongoing fiscal cliff saga, additional volleys have been fired in recent days. For the uninitiated, the so-called fiscal cliff is most often referring to the confluence of sunsetting Bush-era tax rates and some automatic spending cuts tied to last year’s debt ceiling dust-up. Left alone, tax rates for all US taxpayers could move materially higher in 2013.
|By Naj Srinivas, Fisher Investments, Investor's Business Daily, 07/09/2012|
Moody's recently completed a review of 17 global banks' credit ratings (a study that took four months) and "repositioned" (or in simpler vernacular, downgraded) over a dozen. Moody's cited, among other things, banks' potential future earnings volatility, increased capitalization requirements, liquidity buffers and exposure to Europe and the US housing industry.
|By Elisabeth Dellinger, Investor's Business Daily, 07/06/2012|
It is a "truth" universally acknowledged: The repeal of 1933's Glass-Steagall Act was directly responsible for the events of 2008. After all, had the Financial Services Modernization Act (FSMA) of 1999 not removed the dividing line between commercial and investment banking—had banks been properly "ringfenced," in today's vernacular—banks' balance sheets wouldn't have been overleveraged and riddled with so-called toxic assets. And the wave of failures and bailouts thus would never have crested.
|By Fisher Investments, The Street, 06/27/2012|
With 2012 nearly half over, the following list, though not comprehensive, highlights a few questions that we believe many investors are pondering for 2012's back half.
|By Christine Harper, Bloomberg, 06/27/2012|
“It is not clear why a bank needs to do lots of activities in financial services that aren’t banking,” Ken Fisher, CEO and founder of Woodside, California-based Fisher Investments, which manages about $44 billion, said in an interview. “It is not clear to me, other than perhaps in some very specialty cases, that being a bank helps you be an investment bank or an asset manager or an insurer.”
|By Lara Hoffmans, Forbes, 06/26/2012|
Good news! If you’re on vacation and get sick, you’re entitled to schedule another vacation. Less good news. To qualify, you must be employed in Europe.
|By Jonas Elmerraji, The Street, 06/26/2012|
You may already be acquainted with Ken Fisher. He's the author of "Portfolio Strategy," a long-running column in Forbes, and he's well-known as the biggest wealth manager in the U.S.: His firm, Fisher Investments, has more than $41 billion under management. He's also got a lot of wealth in his own right; Forbes estimates his worth at $1.7 billion.
|By Dakin Campbell and Michael J. Moore , Bloomberg, 06/22/2012|
“Moody’s is not going to detect some problem in advance and move a rating to warn the public,” said Ken Fisher, chief executive officer and founder of Woodside, California-based Fisher Investments, which has about $44 billion under management. “Whether it’s a stock or a bond, the free market already did that. Moody’s goes along afterwards and effectively validates what the market’s already done.”
|By Marlene Y. Satter, Joyce Hanson, AdvisorOne, 06/22/2012|
Other banks challenging Moody’s include Morgan Stanley, Bank of America and Royal Bank of Scotland. Moody’s said that those three plus Citi, which were all recipients of taxpayer bailouts, have a history of “high volatility” and problems with risk management.
|By Todd Bliman, Fisher Investments, Investor's Business Daily, 06/21/2012|
At a recent White House press briefing, President Obama committed a grievous error and did the unthinkable: He doled out economic analysis and suggested that ... wait for it ... the private sector's "doing fine."
|By Lara Hoffmans, Forbes, 06/20/2012|
President Obama continues to get hoots and hollers over his statement the private economy is doing fine. He then later attempted to walk that statement back, which only led to speculation whether the first statement was a gaffe, not a gaffe, or a Washington gaffe (that’s when politicians inadvertently say something they mean).
|By Elisabeth Dellinger, Fisher Investments, InvestorPlace, 06/18/2012|
When China released its 12th Five-Year Plan in March 2011, one sentence raised more than a few eyebrows: “Government at all levels should create a sound policy, system and legal environment, break down market segmentation and industry monopoly, stimulate initiative and creativity of market players, steer the behavior of market players towards national strategic objectives.”
|By Amanda Williams, Fisher Investments, Investor's Business Daily, 06/14/2012|
A common investor fear thus far in 2012 has been the potential fallout from a slowing Chinese economy. And it is true China's Q1 GDP growth rate decelerated from Q4 2011—and that may have carried a bit into Q2. However, more recent numbers suggest the stimulus measures China continues to employ are having an impact.
|By Lara Hoffmans, Forbes, 06/12/2012|
The latest Q1 US GDP growth estimate was revised down to 1.9%. However, the headline number often obscures realities. For example, government spending was one of the larger downward revisions—falling -3.9%. Ignore that, and GDP was relatively gangbusters!
|By Fisher Investments, The Street, 06/05/2012|
Eurobonds. German Chancellor Angela Merkel hates them. French President François Hollande loves them. And a growing chorus of EU officials think they're the best bet for preserving the euro.
But are they, really?
|By Fisher Investments, The Street, 06/01/2012|
With the 2012 U.S. presidential race in full swing, rhetoric is also heating up. Rhetoric aside (which is always heated in elections -- nothing unusual about that), election years are typically good for stocks. U.S. stocks have historically done well in election years, averaging 10.9% since 1928.
|By Fisher Investments, InvestorPlace.com, 06/01/2012|
If any word in the English language seems to give Angela Merkel hives, it’s this: eurobonds.
Eurobonds, in case you’ve missed it, is the latest “big idea” in the eurozone
|By Lara Hoffmans, Forbes, 05/31/2012|
Perhaps part of Greece’s problem is it’s illegal to sell books after 6 PM. That’s not the only problem, but it’s possibly emblematic of deeper issues.
|By Fisher Investments, Seeking Alpha, 05/30/2012|
Since its 2008 launch, the Market Vectors Solar Energy ETF (KWT)has fallen 94% from a peak of $43.93/share to roughly $2.50/share currently.
|By Ken Fisher, Forbes, 05/29/2012|
This year, ignore political babble. You’ll be better off. Ignore debt debates, silly fake controversies and finger pointing over who is or isn’t the bigger fan of private enterprise. (I win that footrace, anyway.)
|By Fisher Investments, Real Clear Markets, 05/29/2012|
It's popular among politicians, particularly in an election year, to bemoan the death of various aspects of American life-whether cultural, political or economic-because it allows incumbents and candidates alike to proclaim how they'll save the day.
|By Fisher Investments, InvestorPlace, 05/25/2012|
With earnings season effectively over (474 firms have reported), S&P 500 profit growth averaged 8% — soundly beating consensus estimates of 3.2% — and marking the 11th consecutive quarter of earnings growth.
|By Fisher Investments, Yahoo, 05/24/2012|
This week, in comments reported by China's Xinhua news agency, Chinese Premier Wen Jiabao hinted at the government's economic strategy, saying China should "properly handle the relationship between maintaining stable and relatively fast growth, adjusting the economic structure and managing inflationary expectations.
|By Lara Hoffmans, Forbes, 05/22/2012|
Whether Facebook quadrupled or cratered, it’s been trading for 2 days and some change (as I write). Nothing about nothing over 2.17 days tells you anything about anything. Its falling price isn’t even that unusual for über-fresh IPOs, which tend to lose money on average in their first few trading sessions.
|By Ken Fisher, Forbes, 05/21/2012|
I know it may seem passé in the age of iPads, eReaders and Kindles, but one of my passions is collecting books, especially investment classics. I didn’t know it at the time, but the first classic I read was in 1959 when I was 8 years old. It was my father Phil Fisher’s New York Times Best Seller Common Stocks and Uncommon Profits. I complained about it cutting into my summer vacation and didn’t really understand it, but it probably sparked my love for investing books.
|By Lara Hoffmans, Forbes, 05/18/2012|
For all of California’s effort to close their funding gap, it seems California’s budget deficit is now $16 billion. For those doing the math, that’s $7 billion more than the most recent $9 billion projection. Contributing to the wider gap were tax receipts coming in about $4 billion below projections.
|By Fisher Investments, The Street, 05/15/2012|
When April's U.S. unemployment came out, one headline perfectly captured the news and popular reaction: "Unemployment Rate Hits Three-Year Low. Hooray? No, Boo!" Headline unemployment fell to 8.1%, but payroll gains slowed and missed expectations, fueling fears of weaker employment growth from here.
|By Edward Krudy, Reuters, 05/09/2012|
Elections in Greece and France over the weekend have ushered in a new period of uncertainty for financial markets that could stand in the way of the easy-money rally that boosted stocks at the start of the year.
|By Amanda Williams, Real Clear Markets, 05/07/2012|
There's been much discussion lately of America's impending "fiscal cliff." And some have recently bandied about the term "taxmageddon" to describe the likely scenario if politicians don't take certain actions by the year's end.
|By Fisher Investments, iStockAnalyst, 05/07/2012|
US and global corporate earnings have grown for nine straight quarters—nearly all big, double-digit quarterly growth. Revenue, a more direct reflection of the growing global economy, has also grown consistently of late. But now, consensus expectations are full-year 2012 earnings growth will be slower than 2011's 15%.
|By Bernard Condon, MSN, 04/27/2012|
It's simple to understand, and has a nice ring to it. It's made some investors look like geniuses recently. Say it enough and you might even believe it.
Too bad "Sell in May and go away" doesn't work.
|By Fisher Investments, The Street, 04/21/2012|
For decades, many U.S. investors have feared the decline of American manufacturing. Some point to manufacturing's falling share of the economy, others to the loss of U.S. manufacturing jobs. However, a close look at global data shows America remains a manufacturing powerhouse and leads a worldwide wave of productivity gains.
|By Lara Hoffmans, Forbes, 04/20/2012|
San Francisco has decided to get patriotic.
BART, the Bay Area’s public rail line, will replace 775 trains in its aging fleet, giving preference to vendors who build the trains in America. The idea is to help create American jobs—a lofty goal.
|By Ken Fisher, Forbes, 04/19/2012|
Most readers know that I am an ardent student of market history and a firm believer that it’s prone to repeating itself. So I’m often asked what the current era echoes. My answer: the early 1990s.
|By Lara Hoffmans, Forbes, 04/12/2012|
The heretofore undefined “Buffett rule” got a bit less murky recently, as the senate introduced the “Paying a Fair Share Act of 2012" in March and the president commented on the proposal yesterday.
|By Lara Hoffmans, Forbes, 04/05/2012|
America’s least corrupt state is . . . New Jersey.
That’s not a punchline.
The Center for Public Integrity recently released its State Integrity Investigation, aimed at measuring state corruption. In their words “The Investigation is not simply a tally of scandals that have occurred in state governments.” Fair enough, except they don’t really define what “corruption” means.
|By Ken Fisher, Interactive Investor, 04/04/2012|
Stocks are having a fine year - global stocks in pounds are up nearly 10% in the first quarter. Yet, instead of cheering, folks are gloomy - a positive factor that will boost stocks higher still in 2012.
|By Fisher Investments, The Street, 04/04/2012|
It's an election year, which means we should all expect plenty of tax policy, debt and deficit rhetoric. And rhetoric can get heated -- but before getting swept away, here are some important factors to keep in mind.
|By Peter Robison, Bloomberg Businessweek, 03/29/2012|
Fisher Investments in November opened a campus near the city’s lesser-known namesake, Vancouver, Washington. Residents of the town of about 161,800 enjoy the double benefit of no state income tax in Washington while living close to sales-tax free Oregon.
|By Fisher Investments, iStockAnalyst, 03/28/2012|
Ah, the partisan electricity of an election year! The hot-gas-bag-bluster pollutes our media-saturated senses all year round. It's a blessed thing for the stock market, and in a variety of ways. Call me non-civic, but investors shouldn't care a wit who wins the White House this year.
|By Lara Hoffmans, Forbes, 03/28/2012|
Is happiness more important than economic growth?
Many argue GDP is a faulty economic measure. I have my own quibbles with GDP. While the top-line number isn’t a perfect indicator of economic health, the underlying data is instructive, and it does allow for more of an apples-to-apples comparison across nations.
|By Fisher Investments, iStockAnalyst, 03/27/2012|
Since the peripheral eurozone's debt troubles seized the spotlight in 2010, one fear has repeatedly cropped up: Contagion. Folks worried a Greek default would trigger credit default swaps (CDS), setting off a chain reaction of bank failures across the Continent. However, reality has thus far proved far more benign.
|By Lara Hoffmans, Forbes, 03/23/2012|
For the first time in 26 years, I opened my eyes this morning and could see—thanks to capitalism.
|By Ken Fisher, Forbes, 03/21/2012|
Last year was a dismal year for Chinese stocks. The popular FTSE/Xinhua China 25 Index of blue chips fell nearly 18%. This year it has already gained 7.9%, and I think Chinese stocks will shine in 2012.
|By Lara Hoffmans, Forbes, 03/16/2012|
Happy birthday to the bull market, which turned three March 9. It’s been far from smooth sailing (what bull market is?) as the bull has contended near constantly with greatly exaggerated rumors of its death at the hands of some tiny European nations’ debt loads, “too-high” unemployment, a US double-dip (that never happened), contentious politics, etc.
|By Fisher Investments, The Street, 03/09/2012|
Chinese officials caused quite a stir when they lowered their 2012 economic growth target to 7.5%. Many already fretted a Chinese hard landing in 2012, and if Chinese growth were indeed to match the target, it would be the slowest expansion since 1990. However, recent history suggests Chinese growth should exceed those low expectations.
|By Lara Hoffmans, Forbes, 03/07/2012|
Long-term forecasts are rarely sunny or even middling. In fact, they’re often fairly dystopian: Peak oil, peak gas, peak water, peak food, mass hysteria, zombie apocalypse.
|By Fisher Investments, iStockAnalyst, 03/03/2012|
With aggregate eurozone GDP contracting in Q4 2011 and the European Commission forecasting a Continental recession in 2012, investors may wonder what a eurozone recession means for the global economy and equity markets.
|By Fisher Investments, The Street, 03/01/2012|
In our view, the bull market likely continues with gusto throughout 2012, with strongly positive equity returns. Sentiment remains dour -- investors continue to fear an imminent eurozone collapse, too much debt, a deteriorating U.S. economy, political turmoil, etc.
|By Lara Hoffmans, Forbes, 02/29/2012|
Q4 2011 GDP growth was revised up to 3% from 2.8%. Which is nice, but backward looking. GDP calculations are inherently a bit wonky and a few basis-point revisions don’t matter much, particularly since GDP can be and frequently is revised significantly, even many years later.
|By Ken Fisher, Forbes, 02/27/2012|
You may remember that in my February column last year I predicted that 2011 would “frustrate bulls and bears alike—without a big directional trend” and “end up or down just by a hair.” I was right, but my stock picking could have been better.
|By Lara Hoffmans, Forbes, 02/24/2012|
It seems the new Consumer Financial Protection Bureau (CFPB) believes a good way to protect you would be curtailing the practice of banks discretely covering your checks, instantaneously, should you overdraft.
|By Fisher Investments, The Street, 02/16/2012|
In our view, stock returns are strongly positive in 2012 and the world overall grows, even though the eurozone is likely a weak spot and may even go into recession in aggregate.
|By Lara Hoffmans, Forbes, 02/15/2012|
With Ron Paul still in the running for president, it’s become popular (again) to call for a return to the gold standard.
|By Fisher Investments, iStockAnalyst, 02/13/2012|
2011 was by nearly any count a volatile year chock full of news—the majority tied to the eurozone, specifically the countries known as the PIIGS (Portugal, Italy, Ireland, Greece and Spain).
|By Lara Hoffmans, Forbes, 02/07/2012|
Come April or May (ish?) Facebook plans to join the ranks of Tech IPOs, probably aiming to be more like Google and less like Pets.com. Though who knows?
Ken Fisher and his firm’s Investment Policy Committee detail their market and macroeconomic forecast for the year ahead.
|By Fisher Investments, The Street, 02/06/2012|
Three years into the eurozone's peripheral debt saga, a ton of political and financial capital has been spent, the euro hasn't suddenly shattered and a eurozone-born financial panic hasn't erupted.
|By Lara Hoffmans, Forbes, 01/31/2012|
Folks often talk as if gridlock is a bad thing. Then, there’s House Resolution 29, which would immediately withdraw the US from NAFTA.
New educational video answers common questions about the US’s outstanding debt
|By Lara Hoffmans, Forbes, 01/27/2012|
It’s an election year! At this stage, it’s impossible to handicap who wins. But one thing’s certain: Expect all candidates to keep repeating the tired “US manufacturing is dying” bromide.
|By Fisher Investments, iStockAnalyst, 01/23/2012|
As the US debt ceiling closes in on its 105th increase in 94 years, investors' concerns over the US's debt load are returning to the fore. But are these concerns well-founded? The answers to these three common questions may provide surprising insight.
|By Lara Hoffmans, Forbes, 01/20/2012|
Where are all the “January effect” headlines?
You know—all the “so goes January goes the year” stories”? Sometimes folks just focus on the first five days: “So goes the first five days goes the month goes the year.” Because if you believed in this “effect” you ought to be bullish. Which is perhaps why, in general, those who believe most in this myth are whistling and looking a different direction.
New research graphic answers three key questions about America’s debt.
|By Lara Hoffmans, Forbes, 01/09/2012|
Did you know the US is about to raise the debt ceiling? For the 105th time?
Seems odd another increase is quietly pending since the penultimate increase (that’s right, there was one after that) in August last was preceded by a solid two months of political histrionics, name-calling and hyperbole. Then S&P downgraded the US!
|By Caroline Valetkevitch, Reuters, 01/06/2012|
Investors are about to find out if the economic woes in Europe are going to deliver a deep wound to U.S. company earnings instead of the mere scratch that many expect.
|By Joseph A. Giannone and Jessica Toonkel, Reuters, 01/05/2012|
With the new year comes a new round of bold predictions for financial markets.
|By Ken Fisher, Forbes, 01/03/2012|
I’m recently back from three weeks traveling in Europe. The trip has given me better perspective on the market’s current obsession—the troubled euro zone. To put it bluntly, I say, give ’em the finger—the Italian Finger, that is.