Ken Fisher is Still Bullish on the Stock Market
An optimistic Ken Fisher of Fisher Investments was interviewed on CNBC today. Citing what he reads as a fair amount of investor skepticism and quoting John Templeton’s famous line, “bull markets grow on skepticism, mature on optimism, and die on euphoria,” Fisher said we are around halfway through the bull market in stocks.
Fisher said the Fed has been “stupid” in their policies, but said that was “neither here nor there.” He added that earnings comparisons become tougher as the bull market matures. Therefore, earnings consistency of the biggest and best companies becomes more and more valuable in the second half of the bull market, he said.
Fisher said investors should concentrate on owning large cap stocks with market caps over $80 billion such as Intel (INTC), ExxonMobil (XOM), Pepsico (PEP), Sanofi Aventis (SNY), and BHP Billiton (BHP).
Back in May, Fisher recommended several mid-cap stocks (link).
CXO Advisory rates Fisher above average in guru accuracy (link).