Personal Wealth Management / Expert Commentary
Ken Fisher Looks Ahead at What’s Next for Tech Stocks
In this video, Fisher Investments’ founder and Co-Chief Investment Officer Ken Fisher answers a question he’s received a lot this year: What happened to Tech stocks this past winter? Ken says it’s really common for subcategories of stocks to have short periods of underperformance amid a longer-term trend of overall leadership—and that’s what he believes happened with Tech stocks’ short burst of underperformance this past winter
Title screen appears, “Ken Fisher Looks Ahead at What’s Next for Tech Stocks.”
A man appears on the screen Wearing A navy suit, sitting in his office.
He begins to speak.
A banner identifies him as Ken Fisher, Executive Chairmen and Co-Chief Investment Officer, Fisher Investments.
Ken Fisher doing hand gestures time to time explaining.
Ken Fisher: And commonly people ask what about what happened with tech stocks in the winter?
They didn't do well, and should we get out and maybe get into value stocks or something else?
And I just want to point out just simply that it's really common in capital markets, particularly in the stock market, for subcategories to have periods where they're out of
phase, where in the longer term they're in phase, or the reverse where they're in phase, where in the longer term they're out of phase.
Ken Fisher: And in that, I want you to see that that winter dilemma for the tech stocks, which kind of ran through from middle of November into early March, built into a head of steam. Where the lesson, the real lesson, the valuable lesson is don't let yourself get head faked by these shakeout moves that are effectively head fakes before it reverses.
Because since the beginning of March now some good period of time later, tech stocks have
been very strong and doing very well.
Ken Fisher: And so, you should never let yourself take one of these little periods of a few months where something's strong or something's weak and lead you to think boy oh boy, I can extrapolate that into the future because what was gone on before is over, dead and done and we got to move on.
Ken Fisher: The fact is, every category inside long Moves has sub moves that go on for a little while,
counter to the main move, whether the main moves up or the main moves down. And this kind of thing is just normal. You shouldn't read much into it. You should look to longer term direction and longer-term fundamentals and sentiment issues to determine where things
are going, not these short-term moves.
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A Series of disclosures appears on screen: “Investing is Securities involves a risk of loss. Past performance is never a guarantee of future returns. Investing in foreign stock markets involves additional risks, such as the risk of currency fluctuations. The foregoing constitutes the general views of Fisher Investments and should not be regarded as personalized investment advice or a reflection of the performance of fisher investment or its clients. Nothing herein is intended to be a recommendation or a forecast of market conditions. Rather it is intended to illustrate a point. Current and future markets may differ significantly from those illustrated here. Not all past forecasts were, nor future forecasts may be, as accurate as those predicted herein.
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