Kenneth L. Fisher Quotes

“A constant in my approach to investing: You should think politically but unconventionally.”

“All equity categories, correctly calculated, create near-identical lifelong returns. They just get there via wildly differing paths.”

“Both cheap value stocks and more glamorous growth stocks can work well in a portfolio - if done right.”

“Having different types of stocks in your portfolio can enhance returns.”

“If you can predict where the market's going, just do what you can predict. If you can't, which is the presumption of dollar cost averaging or time cost averaging, either one, then you're trying to ease in. But if the market rises more than it falls most of the time, easing in is, by definition, a loser's game.”

“In history, the evidence is overwhelming: Stock market bottoms happen, and then stocks jolt upwards while the economy keeps getting worse - sometimes by a lot and for a long time.”

“My father, Philip Fisher, was the toughest guy I ever knew. An example: He had terrible teeth, yet he got his fillings done without ever using a painkiller. Now, that's tough!”

“Never pay attention to any price-weighted index.”

“The obvious never moves markets; surprises almost always do.”

“The upward move at the beginning of a bull market is almost always huge compared with the vacillations late in the bear market. If you try to pick a bottom, you will miss a good part of the action.”

“1. Divide capital into 10 equal parts and never risk more than a tenth of it on any one trade.
2. Never overtrade.
3. Never let a profit run into a loss.
4. Do not buck the trend.
5. Trade only in active stocks.
6. When in doubt, get out, and don't get in when in doubt.
7. Never buy just to get a dividend.
8. Never average a loss.”

“Buy straw hats in the winter, when nobody wants them, and sell them in the summer when everybody needs them.”

“No professional Wall Street tipster or plausible promoter can turn a sane person into a stock gambler as easily as his next-door neighbor bragging about his winnings. If all men profited by experience, the world would be peopled exclusively by the wise.”

“When is it safe to invest? There are two answers.
Never for the crowd, always for the reasonable man; for it all depends upon what you call safe, in a world peopled by fallible human beings.”

“In investing, the crowd is wrong much more often than right.”

“There are no good or bad stocks. The company is either good or bad. Stocks are just stocks.”

“It's a good idea to remember that whenever there is a buyer and a seller, somebody is wrong. Make sure it's not you.”

“The stock market is almost magical because it always leads the economy. It goes down long before the economy drops and then heads higher long before the economy rebounds. It always has.”