Fisher Investments Performance
Performance in Perspective
Many investors make hiring decisions based on historical performance. That’s a dangerous practice—we don’t think you should base your hiring decision purely on past returns. No manager can promise matching past returns, consistent outperformance, or investing without downside risk potential. Markets are forward looking, not backward, and you cannot buy past returns. Selling performance is Wall Street’s way of playing to your greed. At Fisher Investments we believe that isn’t in your best interests, so we don’t lead with it.
At Fisher Investments, we focus on long-term performance consistent with your investment goals and time horizon. However, we understand investing can be a long and sometimes challenging road.
Periods of increased equity volatility are normal and can occur at any point—even during the most robust bull market years. But increased volatility can be trying at times. Investors may be tempted to take near-term action to reduce volatility—like moving heavily away from stocks—actions that may run counter to their longer-term strategies. This may help alleviate near-term volatility, but frequently can have longer term consequences, diminishing the likelihood of achieving long-term goals.
On the flip side, investors may occasionally be tempted to “chase heat.” This can happen after a sector has had a long run of superb performance—not unlike Tech in the late 1990s and early 2000. Here, investors may have the opposite reaction and may want to increase risk—by investing more heavily in a narrower sector—and again deviating from a longer-term strategy. They may feel they are “missing out” on better returns. But this too can have longer-term consequences harming longer-term performance. Even the very hottest sectors eventually go cold—but it can be very difficult to predict when.
- We strive to keep you on pace to meet your financial goals over your portfolio’s time horizon.
- We do not expect to achieve positive returns every day, month, quarter or year.
- The rate of withdrawal from an account can profoundly impact the long-term success of a portfolio—in some cases, more so than the investment return.