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Billionare Ken Fisher is buying, but his track record?

From: Mish’s global economic analysis:
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Ken Fisher says high levels of pessimism are a reason to buy stocks. Fisher, who oversees $35 billion from Woodside, California, said in an interview on “Bloomberg Surveillance” with Tom Keene. “My bias when pessimism is high is to own equities.”

In 2007, Mr Fisher said:
This is a time to own stocks. Here are some companies that will participate in the prosperous economy of 2007:

Home builder Pulte Homes – PHM
Toll Brothers – TOL
Beazer Homes – BZH

Absurdities
Look – Anyone can be wrong, but quite frankly that is absurdly wrong.
Pulte Homes was $34 then. It is $8 now.
Toll Brothers was $34 then. It is $16 now.
Beazer Homes was $44 then. It is $3.75 now.

Someone let me know if he ever issued a sell signal on those.

Regardless, Ken Fisher is consistently bullish. In fact he HAS to be bullish because you cannot manage $35 billion without being bullish. Ken Fisher’s advice is designed to do one thing – make money for Ken Fisher.

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My Notes: Readers know that I do not have a high opinion of investment bankers and super rich financial wizards. So, I am not surprised that Mr Fisher seems to make money only for himself.
Please vote in a poll that I have set up. Look at the right column whenever you will find the poll.

Which is your favorite?

This post comes from men’s comments:
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Is cnbc the leader? may be on the TRP, but not otherwise. For Ta NDTV is far ahead and also Ashudutt of ETNOW is also doing a good job in educating the investors. Yes Cnbc has marketed their channel well but it is far from reliable.

CNBC= Cannot Be Correct, sorry if I have had a different view
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So, on the right column I have a poll for you to respond to: Which business channel do you watch most? I am not asking for your favorite. I am requesting you to identify the channel which you spend the maximum time on. Please do respond.

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FX Reserves Fall
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(Reuters) – India’s foreign exchange reserves fell to $282.79 billion as on Aug. 13, from $287.356 billion in the previous week, the Reserve Bank said in its weekly statistical supplement on Friday.

Sugar climbs to 5 month high

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Bloomberg reports that sugar prices climbed to a 5 month high when the USDA reported tight domestic supplies.

Stocks, Oil fall on economy

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U.S. Stocks and oil fell on concerns that the economy may be heading for a period of zero growth. The Dow was down 80 points at 2138 IST while the S&P500 was down 4 points.

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