From: Mish's global economic analysis:
Ken Fisher says high levels of pessimism are a reason to buy stocks. 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.”
In 2007, Mr Fisher said:
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
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.
My Notes: Readers know that I do not have a high opinion of investment bankers and super rich financial wizards. So, I am not surprised that Mr Fisher seems to make money only for himself.
Please vote in a poll that I have set up. Look at the right column whenere you will find the poll.