Kenneth Fisher

Kenneth Lawrence Fisher (born November 29, 1950) is an American billionaire investment analyst, author, and the founder and executive chairman of Fisher Investments, a fee-only financial adviser.

He dropped out of high school and went to Humboldt State University to study forestry, and graduated with an associate degree in economics in 1972.

Having started the firm in 1979 with $250, it would grow to over $100 billion in assets under management as of 2015.

He founded the firm in 1979, incorporated in 1986, then served as CEO until July 2016, when he was succeeded by long-time Fisher Investments employee Damian Ornani.

Fisher remains active as the firm's executive chairman and co-chief investment officer.

Small-cap value was not defined as an investing category until the late 1980s.

Fisher Investments was among the institutional money managers offering small-cap value investing to clients in the late 1980s.

Fisher is married, with three adult sons, Nathan, Jesse and Clayton.

He lives in Dallas, Texas.

Nathan Fisher is the senior executive vice president of Fisher Investments 401(k) Solutions.

Fisher's ongoing study of redwood ecology, particularly the emerging field of study of redwood canopies, grew from his childhood in San Mateo, California, near old redwood logging camps.

Fisher's personal library contains more than 3000 volumes of regional logging history.

Fisher is well-known for his investment columns, which currently run in the New York Post and 18 other countries.

Fisher's Forbes "Portfolio Strategy" column ran from 1984 to 2017, making him the longest continuously-running columnist in the magazine's history.

Fisher is now known for writing monthly, native language columns in international outlets.

Fisher has authored eleven books on investing, and research papers in the field of behavioral finance.

As of August 2022, his net worth is estimated at US$5.1 billion.

Fisher's theoretical work identifying and testing the price-to-sales ratio (PSR) is detailed in his 1984 Dow Jones book, Super Stocks.

James O'Shaughnessy credits Fisher with being the first to define and use the PSR as a forecasting tool.

Fisher's Forbes 'Portfolio Strategy" column ran from 1984 to 2017. Fisher also publishes regular YouTube videos answering common investor questions and appears on major US and international broadcast media, including Bloomberg TV, CNBC, CNBC India, CNBC Asia, CNN International and Fox News.

Fisher has authored eleven investing books, six of which were national best sellers: Super Stocks (1984), The Wall Street Waltz (1987), 100 Minds that Made the Market (1993), The Only Three Questions That Count (2006), The Ten Roads to Riches (2008), How To Smell A Rat (2009), Debunkery (2010), Markets Never Forget (2011), Plan Your Prosperity (2012), The Little Book of Market Myths (2013), and Beat The Crowd (2015).

The Only Three Questions That Still Count, The Ten Roads to Riches, How to Smell a Rat, and Debunkery were all New York Times bestsellers.

According to The Guru Investor by John P. Reese and Jack M. Forehand, in the late 1990s, Fisher defined his investment philosophy after studying the stock returns and P/E Ratios between January 1976 and June 1995 of six investment categories: large-cap value, mid-cap value, small-cap value, large-cap growth, mid-cap growth, and small-cap growth.

In Fisher's 2006 book, The Only Three Questions That Count, he states that the PSR is widely used and known, and no longer as useful as an indicator for undervalued stocks.

In 2006, Fisher gave $3.5 million to endow the Kenneth L. Fisher Chair in Redwood Forest Ecology at Humboldt State.

The gift supports redwood ecology research in perpetuity and provides support for graduate students, laboratories, and field equipment; the research has focused particularly on canopy studies.

Fisher's goal in creating the chair was to transform our understanding of trees and forests.

Humboldt State recognized Fisher with its Distinguished Alumni Award in 2007.

In 2007, Fisher and Thomas Grüner founded Grüner Fisher Investments in Germany.

Fisher is founder and chairman of Fisher Investments, an independent money management firm.

In 2010, he was included in Investment Advisor magazine's "30 for 30" list of the 30 most influential people in the investment advisory business over the last 30 years.

As of December 2021, Fisher's firm managed $208 billion.

Kenneth Fisher was born in San Francisco, California, the son of influential stock investor Philip A. Fisher.

Fisher was raised in San Mateo, California.

As a 13-year-old, he earned $1.20 an hour picking fruit, sawing and fertilizing.

Fisher released the Second Edition of The Only Three Questions That Count in April 2012, and the Second Edition of The Ten Roads to Riches in April 2017.

In 2015, Fisher was appointed to the board of advisors of the Forbes School of Business at Ashford University.

Over the past few decades, Fisher helped Fisher Investments become one of the largest independent money managers in the world.

In 2015, Fisher released Beat the Crowd: How You Can Out-Invest the Herd by Thinking Differently.

In an interview with CNN Money, Fisher discusses how media hype around major economic events have already been priced into stock markets globally, and why investors are better served worrying about factors the market is ignoring.