Fisher on fund pitfalls

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Pilgprog
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Fisher on fund pitfalls

Post by Pilgprog » Mon Jan 13, 2020 3:53 pm

Current Ken Fisher ad offers info and advice on the “pitfalls of funds”.

Anybody seen what he’s talking about?

retired@50
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Re: Fisher on fund pitfalls

Post by retired@50 » Mon Jan 13, 2020 4:03 pm

Pilgprog wrote:
Mon Jan 13, 2020 3:53 pm
Current Ken Fisher ad offers info and advice on the “pitfalls of funds”.

Anybody seen what he’s talking about?
Whatever he's referring to, it's not likely that the "pitfalls" can overcome the enormous advantages of low-cost, broadly diversified, stock and bond total market funds that allow the owner to invest in virtually the entire world of stocks and bonds for less than 10 basis points.

Sounds more like click-bait to capture email addresses.

Regards,
Boggle - a game from Parker Brothers. Bogle - investor, founder of Vanguard.

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rob
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Re: Fisher on fund pitfalls

Post by rob » Mon Jan 13, 2020 4:04 pm

Pitfall is that they don't get commission $$ if you go elsewhere.... Go elsewhere and ignore them.
| Rob | Its a dangerous business going out your front door. - J.R.R.Tolkien

Ocean77
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Re: Fisher on fund pitfalls

Post by Ocean77 » Mon Jan 13, 2020 4:08 pm

I didn't see it, but I have a good idea what Ken Fisher might mean when he talks about "fund pitfalls".

The pitfall is that if as an asset management company you open a mutual fund to extract even more fees from customers, then your performance is exposed and becomes a matter of public record, even after you close the fund.

See here:
https://socialize.morningstar.com/NewSo ... 64550.aspx

:D

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Stinky
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Re: Fisher on fund pitfalls

Post by Stinky » Mon Jan 13, 2020 4:52 pm

Pilgprog wrote:
Mon Jan 13, 2020 3:53 pm
Current Ken Fisher ad offers info and advice on the “pitfalls of funds”.

Anybody seen what he’s talking about?
If you respond to a Fisher ad, you will be bombarded with sales propaganda.

Better to get advice on this Forum than asking Fisher.
It's a GREAT day to be alive - Travis Tritt

PDX_Traveler
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Re: Fisher on fund pitfalls

Post by PDX_Traveler » Mon Jan 13, 2020 4:55 pm

With Ken Fisher, perhaps he's offering insights from personal experience that having the investment firm's principal blab like an idiot could lead to an exodus of investors from the fund...
I guess that's one more reason to invest in index funds.

123
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Re: Fisher on fund pitfalls

Post by 123 » Mon Jan 13, 2020 5:01 pm

Lots of prior threads on Ken Fisher. Just put "Ken Fisher" (without quotes) in the Google search box in the top right corner of your screen.
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nisiprius
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Re: Fisher on fund pitfalls

Post by nisiprius » Mon Jan 13, 2020 5:08 pm

Fisher's firm to pay $376,000 to retiree who just wanted to buy his book
Sharyn Silverstein, 64, is entitled to out-of-pocket losses she incurred as a result of Fisher Investments liquidating her bond portfolio and investing 100 percent of the proceeds in stocks, according to a copy of the interim arbitration award obtained by Bloomberg News....

“Fisher failed to make reasonable inquiry into Ms. Silverstein’s financial situation, investment experience, and investment objectives or ignored that information. Instead of tailoring its recommendation to Ms. Silverstein’s circumstances and needs, as it promised to do and had a duty to do, Fisher simply made the same recommendation to Ms. Silverstein that it makes to the vast majority of its clients: 100 percent equities benchmarked to the MSCI World (MXWO) Index,” [the arbitrator] wrote.

About 80 percent of Fisher’s private clients are invested 100 percent in stocks, according to arbitration testimony from Fisher Vice Chairman Andrew Teufel described in the document.
Last edited by nisiprius on Tue Jan 14, 2020 3:24 pm, edited 1 time in total.
Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness; Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.

Trader Joe
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Re: Fisher on fund pitfalls

Post by Trader Joe » Mon Jan 13, 2020 7:08 pm

Pilgprog wrote:
Mon Jan 13, 2020 3:53 pm
Current Ken Fisher ad offers info and advice on the “pitfalls of funds”.

Anybody seen what he’s talking about?
No, I completely avoid Ken Fisher and Fisher Investments.

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One Ping
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Re: Fisher on fund pitfalls

Post by One Ping » Mon Jan 13, 2020 11:06 pm

nisiprius wrote:
Mon Jan 13, 2020 5:08 pm
Fisher's firm to pay $376K to retiree who just wanted to buy his book
Sharyn Silverstein, 64, is entitled to out-of-pocket losses she incurred as a result of Fisher Investments liquidating her bond portfolio and investing 100 percent of the proceeds in stocks, according to a copy of the interim arbitration award obtained by Bloomberg News....

“Fisher failed to make reasonable inquiry into Ms. Silverstein’s financial situation, investment experience, and investment objectives or ignored that information. Instead of tailoring its recommendation to Ms. Silverstein’s circumstances and needs, as it promised to do and had a duty to do, Fisher simply made the same recommendation to Ms. Silverstein that it makes to the vast majority of its clients: 100 percent equities benchmarked to the MSCI World (MXWO) Index,” [the arbitrator] wrote.

About 80 percent of Fisher’s private clients are invested 100 percent in stocks, according to arbitration testimony from Fisher Vice Chairman Andrew Teufel described in the document.
Fixed that for you. :beer
"Re-verify our range to target ... one ping only."

fleetwdl
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Re: Fisher on fund pitfalls

Post by fleetwdl » Tue Jan 14, 2020 8:16 am

Total click bait. Been down that road with them. Still getting offers 8 years later.
I actually sat for the pitch from a Fisher rep. He would not reveal their investing strategy or their historical investing success. Just wanted to take my funds and invest them in the magical Ken Fisher way.

Silk McCue
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Re: Fisher on fund pitfalls

Post by Silk McCue » Tue Jan 14, 2020 8:25 am

You need to steel yourself against being curious about marketing hooks from the industry unless you want to be fleeced.

Cheers

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JoMoney
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Re: Fisher on fund pitfalls

Post by JoMoney » Tue Jan 14, 2020 9:07 am

From an old thread on the same topic, and the help of the internet archive,
Here You Go:
https://web.archive.org/web/20170108165 ... _funds.pdf

FWIW, I don't like mutual funds either. Low-Cost Index funds are a special case that are ok.
"To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks." - Benjamin Graham

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nisiprius
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Re: Fisher on fund pitfalls

Post by nisiprius » Tue Jan 14, 2020 3:25 pm

Thanks, One Ping. Just fixed it in the posting itself.
Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness; Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.

texasdiver
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Re: Fisher on fund pitfalls

Post by texasdiver » Tue Jan 14, 2020 5:38 pm

Luckily I never see any Fisher ads at all because I live right next door to Fisher. Which, by the way, is building a 3rd large office building on their suburban campus here in Camas WA so the money must still be flowing in. It is an enormous new building they are building. As we found out during the coverage of Fisher's old out of touch sexist guy scandal last fall. The one place they don't advertise is in his home town. From a previous news article:
"Clients who live in certain locations are off-limits. One of them is Clark County. That’s where Camas is nestled, and where Fisher lives. Former colleagues say he wants to avoid bumping into any unhappy customers."

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