Fisher Investments’ Founder Discusses How Midterms May Affect Health Care and Tech Stocks

Title screen appears, “Fisher Investments’ Founder Discusses How Midterms May Affect Health Care and Tech Stocks”

A man appears on the screen wearing a navy suit, sitting in an office in front of a fireplace.

He begins to speak.

A banner identifies him as Ken Fisher, Executive Chairman and Co-Chief Investment Officer, Fisher Investments.

Ken Fisher doing hand gestures time to time explaining.

Ken Fisher: So, there's been quite a lot of talk lately about technology and healthcare stocks from slightly different angles and how much politics might impact them. The breaking up of the tech stocks by Congress, the concern about healthcare stocks tied to healthcare companies, drug companies particular gouging consumers, all that stuff. You hear about all that.

Ken Fisher: And I'm just going to say to you, and you may not care for this, because politics, of course, is a subject that nobody's ever wrong in, that there's a time and a place where those things could happen. But it's not coming at us anytime soon. Because what do we move to this year? We move to really hardcore gridlock this year in America and because of that, we will not get congressional action as we move to hardcore gridlock because you won't be able to get anything like that that moves to Congress, you won't be able to get the forces in place.

Ken Fisher: The shifting to gridlock also if you will, and this is not perfectly so, but mostly so quiets down the regulators because they worry about if they do something that Congress doesn't like, maybe they get their funding cut and they hate that.

Ken Fisher: So, the reality if you think about this is that it gets done in advance of the election because any piece of legislation that isn't that's big, that has controversy associated with it, that has lobbying on both sides associated with it, that isn't this year in the pipeline fully flowing. By June, the legislative pipeline, isn't going to be dead in the water as you move into the campaign cycle, just dead in the water. Won't go, won't happen.

Ken Fisher: And these are ones that will not make it. The things that will make it through this year are little, non-controversial things that in the Senate you can get ten Republicans to sign on for and you can get past the 60 threshold In the Senate. We've already gone through the issues that associated with some of the bigger controversial bills of the past and they couldn't make it.

Ken Fisher: We're now to this period where you do quite a few little things that aren't controversial and these that are concerns about the healthcare stocks and regulation associated with them and pricing and the drug stocks. That will be for another day when we move to a post gridlock world another time and that's fairly far into the future, maybe 2025, Thank you for listening to me.

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