Personal Wealth Management / Expert Commentary

The History of Fisher Investments

Ken Fisher video on avoiding complacency

Hear from our founder, Ken Fisher, about why our company has always looked to take new paths over its history

In 1979, Ken Fisher founded Fisher Investments 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 Fisher Investments' history, we have continuously developed ways to look at capital markets differently.

Ken Fisher's theoretical work in the 1970s popularized 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.

In the mid-1980s, Fisher Investments contributed to the recognition of distinct investment styles. We used 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, we 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, we expanded our service offerings into Canada and the United Kingdom. In 2007, we entered into a joint venture partnership (now a wholly owned subsidiary of Fisher Investments), Grüner Fisher Investments GmbH, which offers its services to investors in Germany. In 2012, Fisher Investments Europe (a subsidiary of Fisher Investments) began conducting business in other European countries. Today, Fisher Investments and its subsidiaries operate in 13 offices across 8 countries—and serve over 100,000 clients globally.*

In addition, we have 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. Our research has led us to develop practical applications of behavioral finance in our portfolio management process.

Our 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 booksDebunkery (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 3/31/2022. Includes Fisher Investments and its subsidiaries.

Video Transcript

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FISHER INVESTMENTS®

Ken Fisher: Now, 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 will 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.

A man appears in a white dress shirt. A fly-out in the lower right corner identifies him as Ken Fisher, Executive Chairman and Co-Chief Investment Officer.

The fly-out disappears.

The screen cuts to text:

Investing in stock markets involves the risk of loss and there is no guarantee that all or any capital invested will be repaid.

Past performance neither guarantees nor reliably indicates future performance.

FISHER INVESTMENTS®

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*As of 12/31/2021. Includes Fisher Investments and its subsidiaries.

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