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Personal Wealth Management / Expert Commentary
A Continual Push For Better
Hear from founder, Ken Fisher, about why our company has always looked to take new paths over its history
In 1979, Ken Fisher founded Fisher Asset Management, LLC ("FAM") and began managing discretionary assets with a fundamental belief in capitalism and free capital markets. We start with the simple notion that supply and demand are the sole determinants of securities pricing. In addition, we believe capital markets are relatively efficient discounters of all widely known information.
Thus, to add value through active management, one must identify information not widely known or interpret widely known information differently—and correctly—from other market participants. Throughout its history, FAM has continuously developed ways to look at capital markets differently.
Ken Fisher's theoretical work in the 1970s popularised the use of the Price-to-Sales Ratio and detailed its relevance as a tool for investment analysis. This tool was used to help manage small cap value portfolios for institutional investors.
In the mid-1980s, FAM contributed to the recognition of distinct investment styles. These advancements as the foundation for a new series of broad mandate strategies, including Global Total Return, US Total Return and Foreign Equity. Vice Chairman & Co-Chief Investment Officer, Jeff Silk, joined the firm in 1983.
In the mid-1990s, FAM began offering separate portfolio management directly to high net worth individuals under our Private Client Group. In 1997, CEO Damian Ornani joined the firm. In early 2000, FAM expanded its service offerings into Canada and the United Kingdom. In 2007, FAM entered into a joint venture partnership (now a wholly owned subsidiary of FAM), Grüner FAM GmbH, which offers its services to investors in Germany. In 2012, FAM Europe (a subsidiary of FAM) began conducting business in other European countries. Today, FAM and its affiliates operate in 16 offices across 16 countries—and serve over 210,000 clients globally.*
In addition, FAM has dedicated significant resources to the emerging field of behavioral finance to better understand not just the tools of finance, but also how investors use these tools. FAM research has led them to develop practical applications of behavioral finance in portfolio management process.
FAM research has been showcased in numerous financial journals, including the Financial Analysts Journal and The Journal of Portfolio Management. In 1984, Ken began writing the “Portfolio Strategy” column for Forbes magazine. He also has been writing a weekly column for Germany's Focus Money since 2009 and has contributed to several UK publications as well. In addition, four of Ken's more recent books—Debunkery (2010), How to Smell a Rat: The Five Signs of Financial Fraud (2009), The Ten Roads to Riches (2008) and The Only Three Questions That Count (2006)—were named New York Times bestsellers.
*As of 30/09/2026. Includes FAM and its affiliates.
Transcript
I'm a little always afraid of us having complacency, because then we become the thing that at a future date, the world should, if you will, end up popular current vernacular phraseology that I never heard when I was young, and don't actually much care for, get disrupted by a new world if we're complacent. But if we keep focus on trying to do never yet done things that'll never happen. And it's that which I keep coming back to over time, as the part that drives me that I get excited about.
This commentary is private and confidential and is in response to a request for information. Fisher Investments Singapore Pte. Ltd. (UEN 202228799W) uses the trade name Fisher Investments and holds a capital markets services licence (CMS101877) to conduct fund management activity in Singapore, providing discretionary investment management services to accredited and institutional investors only. Fisher Investments Singapore Pte. Ltd. does not offer services publicly in any other jurisdiction and delegates certain portfolio management activities to its US parent company, Fisher Asset Management, LLC. This commentary has not been reviewed by the Monetary Authority of Singapore. Investing in equities and other financial products involves the risk of loss.
This commentary constitutes the general views of Fisher Investments and does not constitute a solicitation of an offer to purchase any investment or services. These views should not be regarded as personal legal, tax, investment or other advice. No assurances are made we will continue to hold these views, which may change at any time based on new information, analysis or reconsideration. Any forecast or forward looking statement is based on current expectations and beliefs involving risks, uncertainties, assumptions, and judgments that are difficult to accurately predict and may prove inaccurate. Forecasts and any past performance information are not indicative of future performance and should not be relied upon. We assume no obligation to update this commentary. There can be no assurances that investment returns from a particular strategy or allocation will exceed returns from another strategy or allocation. Individual financial products, including fixed interest products and derivatives, and investing in different markets, carry unique risks. No representation, warranty or undertaking, express or implied, is given as to the accuracy, reliability or completeness of the information or opinions in this commentary and no liability whatsoever is accepted for any such information, including incidental or consequential damages.
I'm a little always afraid of us having complacency, because then we become the thing that at a future date, the world should, if you will, end up popular current vernacular phraseology that I never heard when I was young, and don't actually much care for, get disrupted by a new world if we're complacent. But if we keep focus on trying to do never yet done things that'll never happen. And it's that which I keep coming back to over time, as the part that drives me that I get excited about.
This commentary is private and confidential and is in response to a request for information. Fisher Investments Singapore Pte. Ltd. (UEN 202228799W) uses the trade name Fisher Investments and holds a capital markets services licence (CMS101877) to conduct fund management activity in Singapore, providing discretionary investment management services to accredited and institutional investors only. Fisher Investments Singapore Pte. Ltd. does not offer services publicly in any other jurisdiction and delegates certain portfolio management activities to its US parent company, Fisher Asset Management, LLC. This commentary has not been reviewed by the Monetary Authority of Singapore. Investing in equities and other financial products involves the risk of loss.
This commentary constitutes the general views of Fisher Investments and does not constitute a solicitation of an offer to purchase any investment or services. These views should not be regarded as personal legal, tax, investment or other advice. No assurances are made we will continue to hold these views, which may change at any time based on new information, analysis or reconsideration. Any forecast or forward looking statement is based on current expectations and beliefs involving risks, uncertainties, assumptions, and judgments that are difficult to accurately predict and may prove inaccurate. Forecasts and any past performance information are not indicative of future performance and should not be relied upon. We assume no obligation to update this commentary. There can be no assurances that investment returns from a particular strategy or allocation will exceed returns from another strategy or allocation. Individual financial products, including fixed interest products and derivatives, and investing in different markets, carry unique risks. No representation, warranty or undertaking, express or implied, is given as to the accuracy, reliability or completeness of the information or opinions in this commentary and no liability whatsoever is accepted for any such information, including incidental or consequential damages.
