Posted on 10/22/2019 7:25:38 PM PDT by SeekAndFind
Ken Fisher’s sexually-charged speech at a San Francisco conference earlier this month has cost the money manager another big investor.
On Monday, Fidelity ended its relationship with Fisher Investments, saying it has decided to reallocate assets within its Strategic Advisers Small-Mid Cap Fund that were previously run by Fisher.
Fisher Investments did not immediately respond to FOX Business' request for comment.
Fidelity became at least the third big investor to pull its money from Fisher, who manages $112 billion. Last week, the Michigan Treasury Department withdrew $600 million of the state’s pension fund from Fisher Investments due to the money manager’s “completely unacceptable comments.” Four days later, the Iowa Public Employees Retirement System withdrew $386 million.
Fisher, while speaking last week at a Tiburon Strategic Advisers event, compared wooing money-management clients with "trying to get into a girl's pants." Tiburon also cut ties with Fisher for life.
After first expressing dismay over the criticism he received for making the comments, Fisher apologized for the sexual innuendos.
(Excerpt) Read more at foxbusiness.com ...
Fischer’s advice to steer clear of annuities is good advice.
Fisher sent me a four page brochure which was packed with good advice and common sense. It was exceptionally good for that kind of thing, but nothing that I either didn’t already know, or if I didn’t, nothing really useful.
Annuities are a funny thing. I can see the drawbacks, but I was considering them at one time to protect my wife. She is prone to overspending and panic. If I die before her she could go through our not insignificant savings long before she dies at 98 like her aunt, or will be so afraid to spend a nickel that she will live like a miser. An nice regular annuity check - preferably a paper check - could help her strike a balance between over caution and overspending.
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