1970s: Ken Fisher’s theoretical work in the 1970s pioneered 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 our institutional investors.
1979: Ken Fisher founded Fisher Investments in the US and began managing discretionary assets with a fundamental belief in capitalism and free capital markets. His investment philosophy was rooted in the simple notion that supply and demand are the sole determinants of securities pricing, and 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.
Mid-1980s: Fisher Investments contributed to the recognition of distinct investment styles and used these advancements as the foundation for a new series of broad mandate strategies, including Global Total Return, US Total Return and Foreign Equity.
Mid-1990s: Fisher Investments began offering separate portfolio management directly to US high net worth individuals through its Private Client Group.
Early 2000: Fisher Investments expanded its service offerings into Canada and established Fisher Investments Europe as a wholly-owned subsidiary in the United Kingdom. Fisher Investments UK is a trading name used by Fisher Investments Europe.
2007: Fisher Investments entered into a joint venture partnership with Grüner Fisher Investments GmbH (now a wholly-owned subsidiary), which provides portfolio management services to investors in Germany.
2012: Fisher Investments Europe began conducting business in other European countries. After four short years, Fisher Investments Europe conducts business in eight European countries (excluding the UK).
In addition, Fisher Investments has dedicated significant resources to the emerging field of behavioural finance to better understand not just the tools of finance, but also how investors use these tools. This research has led Fisher Investments to develop practical applications of behavioural finance in its portfolio management process. Ken Fisher’s research has been showcased in numerous financial journals, including the Financial Analysts Journal and The Journal of Portfolio Management.