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In the latest issue of Forbes Magazine, Ken Fisher, money manager and author of several books including Markets Never Forget (But People Do): How Your Memory Is Costing You Money-and Why This Time Isn’t Different
Fisher touts four other books including Lefèvre’s Reminiscences of a Stock Operator, Benjamin Graham and David Dodd’s Security Analysis, Roger Babson’s pre-1929 Business Barometers for Anticipating Conditions and, Modern Book Collecting by Robert Wilson.
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Ken Fisher, manager of mega-billions and author of several books, has written an article for Forbes entitled, “Set Your Phaser to Buy.” Fisher believes we are in the improvement phase of the recession and has five ideas for investors to put their money in.
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Bloomberg reports that Ken Fisher doesn’t buy into the notion of a “new normal” of low growth in the economy, calling the idea idiotic. He believes the stock market will be as good in the next decade as that of the 1990′s.
Skepticism and pessimism are normal sentiments for investors 18 months after the bottom of a bear market, according to Fisher, who said in July 2007 that the global credit crunch was “just all minor volatility” and “just fears of much ado about nothing.”
Source: Bloomberg
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John Reese, founder and CEO of Validea, has written a piece for Forbes highlighting the 7-year results of several guru-inspired portfolios constructed back in 2003. The winner so far is:
More than three decades after his death, Ben Graham is still beating the market.
At least, Graham’s strategy is still handily beating the market, according to Validea.com’s guru-inspired portfolios, the original 10 of which recently hit the 7-year mark in terms of performance tracking. And the results show that Graham, known as “The Father of Value Investing,” is still king.
From its July 15, 2003 inception through July 15 of this year, Validea’s 10-stock Graham-inspired portfolio returned a total of 147.6%. That’s an annualized return of 13.8% per year—during a period in which the S&P 500 index returned a total of just 9.6% (1.3% per year).
Running second is the Motley Fool’s portfolio with an excellent 7-year return of 128.3%, with third place held by Ken Fisher, returning 119.2% over the same period.
Several stocks that currently meet the criteria of Validea’s Graham-inspired portfolio include Bebe Stores (BEBE), Sanofi-Aventis (SNY), Ensco (ESV) and Archer-Daniels Midland (ADM).
Source: Forbes
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Ken Fisher Declares Talk of Slow Growth "Rubbish"
by Barron Maestro on December 10, 2009
Ken Fisher claims that stocks are cheap by historical standards and also cheap when compared to bonds. Fisher repeats his mantra over the past 8 years which is to be bullish and buy stocks. His favorite areas are materials, industrials, technology and overseas stocks (especially).
Fisher recommends the purchase of AustralianAlumina Ltd (AWC), Braskem (BSK), Semiconductor Manufacturing International (SMI), and Emcor Group (EME).
SMA Comment: Although it has nearly doubled off the bottom, Emcor Group looks interesting. The company has a tremendous amount of cash and it sells at a PE of about 10.
Source:
Forbes.com
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