Fisher Investments Releases Q3 Review Summary

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Quarterly review details the firm’s market outlook for the remainder of 2012 and beyond

Fisher Investments released the executive summary of its quarterly review, which summarizes the firm’s views on global market conditions, geopolitical issues and current events impacting capital markets.

The executive summary of Fisher Investments’ review explains how abundant investor skepticism—driven by macroeconomic, political and other fears—is a signal the bull market may continue to advance in the period ahead. As Sir John Templeton once stated, “Bull markets are born in pessimism, grow on skepticism, mature on optimism and die of euphoria.” Sentiment is just one of many features supporting Fisher Investments’ forecast that this bull market has room to run.

Fisher Investments further explains, “US Q2 GDP growth was revised down, leading to fears of ‘too slow’ growth and a looming recession … Both earnings and revenue remain near record levels, though growth has slowed—normal at this stage. Firms still have near-record levels of cash on balance sheets they’re deploying on growth-oriented spending, like resurgent capital expenditures. Unemployment remains high but is a late lagging indicator and doesn’t portend economic direction or duration.” With the upcoming elections, Fisher Investments reviews political drivers as well.

Fisher Investments’ reviews are published quarterly and written under the guidance of its five-member Investment Policy Committee (IPC): CEO and Co-Chief Investment Officer Ken Fisher, Vice Chairman and Co-Chief Investment Officer Jeff Silk, Vice Chairman Andrew Teufel, EVP of Portfolio Management Bill Glaser, and Research Manager Aaron Anderson. Collectively, the IPC oversees Fisher Investments’ portfolio strategy, in-house research efforts, portfolio engineering and capital markets technology development. Fisher Investments’ reviews are available only to clients, but shortly following the publication of the client-only version, an abridged “Stock Market Outlook” is made available to the public.

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About Fisher Investments

Founded in 1979, Fisher Investments is an independent, privately-owned money management firm with tens of billions under management. Fisher Investments maintains two principal business units, Fisher Investments Institutional Group and Fisher Investments Private Client Group, which serve a global client base of diverse investors including over 100 large institutions and over 25,000 high net worth individuals. Founder and CEO Ken Fisher has written the Forbes “Portfolio Strategy” column for 28 years, has written 8 books on investing and personal finance (5 of which are national bestsellers), and in 2010 was named by Investment Advisor magazine as one of the 30 most influential industry individuals in the last 30 years (Thirty for Thirty, May 2010).

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David Eckerly