How We Tailor Portfolios (Fisher Investments - CA)
Fisher Investments emphasizes the need for continuous reassessment of investment strategies and portfolio positioning due to constantly changing market conditions. As an active money manager, the firm focuses on forward-looking analysis to anticipate future market developments and position clients' portfolios accordingly to achieve long-term financial goals.
Summary
The transcript presents Fisher Investments' philosophy on portfolio management and the necessity of adaptive investment strategies. The speaker emphasizes that market conditions and investment opinions are not static—what may be true today could change tomorrow. This recognition drives Fisher Investments' approach to continuously refresh their understanding of global market dynamics and reassess investment decisions regarding which assets to include or exclude from client portfolios. The firm positions itself as a forward-looking, active money manager that doesn't simply react to current market conditions but instead attempts to anticipate future developments. The core objective is to leverage this forward-looking perspective to strategically position client portfolios in ways that optimize the likelihood of achieving long-term financial goals. This approach reflects a commitment to active management rather than passive strategies, with an emphasis on proactive positioning based on anticipated market movements.
Key Insights
- Fisher Investments views investment opinions and market assessments as time-dependent rather than permanent, requiring consistent refreshing as conditions change
- The firm conducts ongoing reassessments of investment choices for client portfolios based on constantly evolving global market changes
- Fisher Investments identifies itself as a forward-looking, active money manager rather than a reactive or passive strategy provider
- The firm attempts to anticipate future market developments ('what's coming down the road') to inform portfolio positioning decisions
- Strategic portfolio positioning is explicitly connected to the objective of helping clients achieve long-term financial goals
Topics
Transcript
[0:04] Things are changing all the time. An opinion I have today may not be true tomorrow. And so consistently refreshing our view on what's happening around the globe in the markets in the various investments that we've chosen to put in client portfolios or not put in client portfolios needs to be reassessed based on the changes that are constantly happening over time. Fischer is very much a forwardlooking, active money manager. We're looking and trying to [0:34] figure out what's coming down the road and how we best can position our clients to ensure that they're going to be achieving their goals in the long run.
Full transcript available for MurmurCast members
Sign Up to AccessMore from Fisher Investments
This Week in Review | Global PMIs, SpaceX, RMD Planning (July 10, 2026)
This week in review covers three key developments: global PMI data showing unexpected economic resilience across major markets, SpaceX's addition to the NASDAQ 100 index, and a midyear reminder for those 73+ to plan required minimum distributions from retirement accounts.
Ken Fisher’s 2026 Mid-Year Market Update
Ken Fisher provides a mid-year 2026 market update, noting that markets are up about 9% year-to-date, performing slightly better than his beginning-of-year forecast. While most predictions have held true, AI-related tech has significantly outperformed expectations, and non-tech US equities are lagging their overseas counterparts more than anticipated.
Does Ken Fisher Still Hate Annuities?
Ken Fisher advises potential annuity buyers to carefully read and understand the contract before purchasing, as annuities are contracts between the buyer and insurance company. He acknowledges that contracts are difficult to read due to jargon and complexity, but argues that thorough review will clarify what the annuity actually is and allow buyers to make informed decisions.
Ken Fisher: Celebrating 250 Years of American Innovation
Ken Fisher argues that America has been the dominant force in global innovation and capitalism, particularly from the late 19th century onward, contributing significantly to material well-being worldwide. He contends that American capitalism deserves celebration as it has generated breakthrough innovations and successful companies that have benefited not only Americans but people across the globe.
3 Things You Need to Know This Week | NATO Summit, Fed Minutes, Quarterly Reporting (July 6, 2026)
This weekly market briefing covers three major topics: the NATO summit in Turkey and its limited market impact despite higher defense spending, the Fed's June meeting minutes under new Chairman Kevin Worsh showing divided views on future rate decisions, and an SEC proposal to change public company reporting from quarterly to semiannual cadence.