Back in the '60s and '70s, data were scarce, and while analysts knew that companies with fat gross margins lagged those with thin gross margins early in bull markets - and overachieved in the later phases - they couldn't do much about it. Kenneth Fisher 60s70sanalyst share on social
Investors covet past improvements but also always believe pricing unimaginable future creativity and efficiency gains is Pollyannaish. And they're always wrong. Bet on it. Kenneth Fisher betcovetcreativity Change image and share on social
Many follow a rule of thumb - no more than 5% in one stock. But that's not the entrepreneurial road to riches. Kenneth Fisher entrepreneurialfollowrich Change image and share on social
Normally, the market peaks before bad news emerges. That's what happened in 1929, and that's what happened in 2000. Kenneth Fisher bademergehappen Change image and share on social
In the world I've known most of my life, old stories quickly lose their power over capital markets and get replaced by new surprises. That which everyone fixates on gets priced into the stock market quickly and can't drag on. Kenneth Fisher capitaldragfixate share on social
Long before folks fretted the demise of 'quantitative easing,' I fretted its existence. It proved the reverse of its image, an antistimulus, and we've done okay not because of it, but despite it. Kenneth Fisher antistimulusdemiseease Change image and share on social
Generally, variations in earnings aren't nearly as impactful on glamour growth stocks as are changes in image and, well, sexiness. I often think of glamour stocks as though they are attractive women dressing to the nines. Kenneth Fisher attractivedressearnings share on social
Normally, if you have a huge category that leads a bear market all the way down to the bottom - like tech after 2000, or energy in the '80-'82 bear market - you get one quick pop, and then years of lag as we fight the old war. Kenneth Fisher bearbottomcategory share on social
Anyone can see how if a feared tax hike doesn't happen, that's a positive factor. But even if tax hikes happen as feared, vast history tells me it doesn't have to have the big bad impact folks fear. And fear of a false factor is always bullish. Kenneth Fisher badbigbullish share on social
If you are prepared for some risk, junk bonds pay about 5%, but they tend to get whacked when interest rates rise. Same with lower-yielding but higher-quality corporate bonds. Kenneth Fisher bondcorporatehigh Change image and share on social
