Personal Wealth Management / Expert Commentary

Ken Fisher Looks at Global Politics and Their Impact on Capital Markets

Investors often focus on American politics and their potential market implications, but increasingly, investors are paying attention to non-American politics as well. According to Fisher Investments’ founder, Executive Chairman and Co-Chief Investment Officer Ken Fisher, the current state of global politics is very similar to what’s happening in America.



Title screen appears, “Ken Fisher Looks at Global Politics and Their Impact on Capital Markets.”

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Ken Fisher: You, it's very common for investors to talk about American politics all the time and you know that.

But increasingly I'm asked about how international elections ones and I actually don't care for the phrase international; I care for the phrase non-American elections impact investors, impact capital markets.

And of course, it's different times to do that differently.

And bigger countries have more impact on markets than littler countries for obvious reasons.

Ken Fisher: But this year, right now, we're seeing a trend that I believe is near monotonic.

It's largely the same almost everywhere, which is country

elections are moving more the same way that America's election last year did, toward gridlock, toward creating governments that don't really have the capability to do so much, while meanwhile people keep talking yak, yak, yak, yak, yaking about governments doing so much.

Ken Fisher: So, if you look, for example, at Israel,

its elections have gridlocked itself almost completely.

And yet as we look ahead, they

probably stagger into more of that.

India, the same thing.

Germany's elections immediately ahead, same thing. In Japan It's a little different, of course, because with the impending technical change of regime, the Conservative Party's been in power officially since I was a boy in the 1950s.

And the fact is there's often a little relief rally when you move to the next head of state, but it typically doesn't last very long.

And that's because typically nothing really basic changes, but again, they are fairly flattened in terms of ability to get much done.

Ken Fisher: And that's largely the hallmark that

we see around the world.

The voters seem to be spread apart in opposition, very much the way they are in America--different

parties, different names, different titles, different structures.

And of course, outside of America you typically don't have the two parties, you typically have a multiparty system.

Ken Fisher: But when you get down to arraying all the parties, you get the same spread with adverse reaction to each other that causes the gridlock, which causes the heightened talk but the diminished action.

And that's actually bullish for investors, whether it's the overseas gridlock or the same way it is with US gridlock and is a continued bullish Sign.


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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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