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Eileen Findlay
April 28, 2009
Huge losses in his investment strategy
Fisher Investments, Ken Fisher, has lost so much money for people both here in the UK and the USA, it’s not funny. He doesn’t buy bonds, he doesn’t go into cash, he just stays 100% invested in equity, whether or not his clients lose their shirt. He likes older clients with high net worth, and requires them to cash in their long term held investments, thereby incurring capital gains taxes for his clients, then buys at the high, only to see these investments crash and burn right at the time when elderly people are getting ready to retire. As we all know the megacaps and emerging markets and basically every stock has been trashed, yet Ken Fisher put his clients into all the bank stocks in early 2007, and high risk commodities…and we all know what happened to them. He says in his book “The Only Three Questions That Count”, that “you need to know something other people don’t know”, but the truth was he really doesn't know anything. He was a raging bull for the past three years, promoting stock in his Forbes column…..now he’s having to eat crow and all his investors are lining up at soup kitchens. And for what it’s worth he no longer has $46billion under management. Last we heard, it was $21b, and he was laying off staff. Ah well, the rich keep getting richer and their clients keep getting poorer, that's how “Investment Advisors” make their money, by robbing those of us who have worked hard all our lives to save and conserve our assets thereby enriching themselves, by impoverishing us. Fisher Investments should be put out of business.
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