Kenneth Fisher is chief executive officer of Fisher Investments. The firm, which ended last year with $94 billion in assets, managed about $600 million for Michigan’s pension fund. Fisher Investments shed another $50 million soon after, when Philadelphia’s pension board said the same day that it was also withdrawing its assets from the firm. I sincerely apologize.”Several other clients, representing more than $1 billion in additional assets managed by Fisher Investments, have since condemned Fisher's comments and said they’re reviewing their relationships with the firm. “We are very concerned about the highly inappropriate comments by Kenneth Fisher,” said Fidelity spokesperson Vincent Loporchio in an emailed statement on Tuesday.

Source: Forbes October 17, 2019 16:12 UTC