Wednesday, September 12, 2007
Kenneth Fisher Drools In Public
Fisher is best known for his prestigious "Portfolio Strategy" column in Forbes magazine. He has written four major finance books including The Only Three Questions That Count: Investing by Knowing What Others Don't. Ken's theoretical work in the 1970s led to the development of a tool known as the Price-to-Sales Ratio, which is now part of core financial curriculum. He is the Chief Executive Officer and Chief Investment Officer of Fisher Investments, a multi-billion dollar multi-product money management firm serving large corporate and public pension plans, in addition to endowments, foundations and high net-worth individuals.Kind of frightening, this. This man has his paws on pension funds? Here's hoping he's better on other investments than on subprime. When I finish laughing I'll explain why this constitutes drooling in public. I am laughing very hard, so don't hold your breath. Instead, read the article.
Kenny is talking his book. He's trying to sneak out the side door without being noticed.
Mene Mene Tekel Upharsin.
I use that phrase at Greenwich cocktail parties and it makes them think i went to private school.
I'm sorry guys, I'm still laughing. I keep trying to sit down and write a sober explanation but then I end up with tears streaming down my face.
Tom, if that sounds like your ex I pity you. Let's hope your ex doesn't have her retirement funds allocated in Fisher style.
Rob, I think you are right about talking the book. Didn't Lereah do much the same? Bad, bad market timing.
Mark, that's a very appropriate link. Suze Orman
Another favorite quote is the one "Death Speaks". Have not figured out how to work that into conversation.
A recap for those who don't wish to read the link (from 2000):
ORMAN: Fabulous economy. Best that we've had in forever, almost.
ORMAN: No, I mean, it's obvious that if Mr. Greenspan continues to push interest rates up possibly too high, we could always collapse that. But I don't think he's going to do that. I think he actually is in quite good control of what's out there.
ORMAN: I have to tell you, I think what we have seen right now is the top of the real estate market. I think...
ORMAN: Truthfully, what happens to most people is that they get afraid. Like right now, I think a lot of people are going to make a mistake thinking they're going to stop investing in the stock market because they don't know what's happening and the market has gone down some.
KING: Do you ever recommend gold or silver?
ORMAN: No, never.
KING: You ever recommend commodities?
Flash forward to 2006:
A Savvy Investment for a Tough Market
It's been hard not to take a shine to gold lately.
It is difficult to be 100% confident in my stagflationary ways these days, if you know what I mean, lol. ;)
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