Ken Fisher, head of Fisher investments, made what we think to be the most defining comment of our time to-day:
“WE ARE CHIMPANZEE’S WITH NO MEMORY”
How apt. While power-hungry, self-serving politicians, panicked individuals, self-serving commentators, ratings starved media, and generally paranoid humans exploit this moment in the current cycle, constantly over-analyzing the current conditions, future conditions and all other conditions no-one has any direct control over, at last the voice of reason: Yes, things are not great right now. We are just emerging from a HUGE financial crisis. But like all cycles, this part of the cycle will evolve into the next part, and soon the economy will be growing a lot more than anyone is saying it will right now. And then stupid politicians, greedy bankers and deluded consumers will get into the exact same trouble we got into this time around….
Ken Fisher was arguing against the notion that we are in a “NEW NORMAL”, a theory proposed by PIMCO’S head…… he predicts growth to be a lot more robust than the general consensus.
“We agree with Ken Fisher,” says Leonard Steinberg managing director of Prudential Douglas Elliman and publisher of LUXURYLETTER. “Lets re-visit this subject in 2020: only then will we know who was right.”
Tags: chimpanzee, chimpanzees with no memory, Fisher Investments, Ken Fisher, Leonard Steinberg, luxuryletter, new normal, PIMCO, Prudential Douglas Elliman
Oh yeah. Totally agree. Thanks for the post!
Yeah, I have to say I agree with Fisher and Steinberg and you good people here. Loved Fisher’s book the Wall Street Waltz. There’s a guy who gets history and how it repeats.