Macro Minutes: US Elections & Equity Markets

12/10/2020

In this 5-minute Macro Minutes video, Capital Markets Research Analyst Jarred Kriz explains how Fisher Investments thinks objectively about politics to analyse the potential impact on markets and portfolios.

Fisher Investments Webinar on the Market Impacts of the US Election

09/10/2020

In this webinar, Senior Vice President of Research, Aaron Anderson covers the upcoming US presidential election and potential impacts on equity markets. He discusses how the COVID-19 crisis may influence the election, as well as how a Trump or Biden victory may impact markets. The importance of the political cycle, the leaders who are elected and the economic thinking they subscribe to may be important for how different sectors of the US economy can be expected to perform.

Fisher Investments ESG Perspectives Newsletter

28/09/2020

The Fisher Investments ESG Perspectives Newsletter is published seasonally to keep the investment community abreast of our ESG capabilities and projects. 2020 marked a big year for ESG at Fisher Investments. We launched a Diversity & Inclusion roadmap, refined our methodology for understanding positive portfolio impact, and continued pushing data boundaries through our proprietary ESG research.

Macro Minutes: Health Care Sector Update

21/09/2020

In September’s Macro Minutes video, Capital Markets Research Analyst Charles Dornbush explains how Health Care’s defensive nature largely explains its performance this year. He also provides an update on the progress towards an effective COVID-19 vaccine and how the Health Care sector may be impacted by the upcoming US presidential election.

Macro Minutes: Scale Matters to Climate Initiatives

25/08/2020

In this edition of the Macro Minutes video series, ESG Programme Manager Zoe Abbott Boyd addresses how the scale of a company’s positive environmental activities matters. Big tech firms and large oil companies are improving their environmental impact by supporting energy efficiency and alternative energy.

Fisher Investments UNPRI Assessment Report 2020

25/08/2020

The UN Principles for Responsible Investment (UNPRI) awarded Fisher Investments with the highest score of an A+ for our Strategy & Governance and Incorporation modules, as well as an A for our Active Ownership module.

ESG Insights

18/08/2020

ESG Insights is a one-stop shop for all of our key ESG research findings. The latest ESG Insights includes ESG implications of COVID-19, global ESG trends, renewable energy opportunities, and limitations of ESG scores.

Macro Insights Q3 2020

12/08/2020

We believe the equity rally since late March marks the start of a new bull market. However, the market drop and recovery have so far acted more like a massive correction than traditional bear and bull markets, without a lasting style shift.

Macro Minutes: Large Growth vs. Small Value

29/07/2020

We believe large growth remains in a favourable position, almost as if the bull market never really ended, and the March drawdown instead behaved more like a severe correction.

Impact of COVID-19 on ESG

06/07/2020

In this video, we highlight the strength of ESG demand, key emerging engagement themes, and drawbacks of focusing on passive ESG index performance since the pandemic outbreak.

Macro Minutes: Info Tech Sector Update

26/06/2020

This edition of the Macro Minutes video series features Capital Markets Research Analyst Tim Schluter providing an update on the Info Tech sector. Tim addresses how Tech has made it through the year relatively unscathed as technology itself has become the economy’s connective tissue amid COVID-19 disruptions.

Macro Minutes: Energy Sector Update

21/05/2020

The first edition of our new Macro Minutes video series features Capital Markets Analyst Brad Rotolo recapping what’s been happening in the Energy markets, how Energy shares have reacted, and implications for the broader markets.

Macro Insights Q2 2020

04/05/2020

This downturn is unprecedented in its speed, and the duration of the economic impact will matter more than the size – the shorter the contraction, the more robust the recovery.

Fisher Investments ESG Perspectives Newsletter - Winter 2020 Edition

24/02/2020

The Fisher Investments ESG Perspective Newsletter is published seasonally with the goal of keeping the investment community abreast of our various ESG capabilities and projects. 2019 marked a big year for ESG at Fisher Investments. We launched our first impact portfolio-aligned with the UN Sustainable Development Goals, hired an industry expert on corporate engagement & responsibility, continued pushing data boundaries throughout our proprietary ESG research and started exploring ways to make our operations more sustainable.

Macro Insights Q1 2020

29/01/2020

We expect 2020 will be a moderately positive year for equities. Sentiment is still not euphoric, yet continues to improve as 2019’s big fears did not materialize. A Goldilocks economy is emerging from a mid-cycle slowdown, while political uncertainty should peak early then fade through the U.S. presidential election.

Macro Insights Q4 2019

30/10/2019

Long, flat periods followed by gains have been a hallmark of this bull, which should continue with volatility into 2020.

Macro Insights Q3 2019

18/07/2019

We expect the market to continue accelerating in this bull’s final third – albeit at a slower pace in the second half of the year – on the back of post-correction highs.

Fisher Top Down Macro ESG Themes

15/05/2019

Fisher Investments (FI) utilizes a unique combination of top down and bottom up investment process where ESG risks and opportunities are regularly evaluated to determine potential impact on portfolio macro themes, country/sector allocation, and stock selection.

Macro Insights Q2 2019

09/04/2019

Equities have rebounded strongly from 2018’s lows, demonstrating a V-shaped recovery associated with prior corrections. We expect equities to accelerate through the bull market’s final third.

Macro Insights Q1 2019

25/01/2019

2018’s market decline was driven more by fear than fundamentals, a classic characteristic of corrections which typically feature strong V-shaped recoveries. We expect the bull market to resume selling pressure from the end of 2018 to ease and corporate and economic fundamentals remain solid.

European Financials Outlook

18/11/2018

We are currently overweight to European Financials in our global portfolios. Despite recent sentiment-driven underperformance, we expect strong performance going forward. Asset quality, real estate prices, loan growth, LEIs, the yield curve and the end of QE support a healthy future. Overblown trade and political fears have weakened sentiment for European Financials, setting the floor for positive surprises.

Overweight Latin America

09/10/2018

The paper was prepared in light of shifts within our Emerging Markets Equity portfolio which increased our overweight to Latin America. Further, the paper discusses the firm’s views to the unfolding political events in Brazil and Mexico at the time of writing.

Macro Insights Q4 2018

03/10/2018

With US midterm elections on the horizon, we expect the bull market to continue as investors begin to appreciate underlying fundamentals and fears of a trade war and Eurozone breakup dissipate.

Turkey Commentary

20/08/2018

Turkey’s challenges today are driven by years of economic mismanagement and President Recep Tayyip Erdogan’s actions following his recent consolidation of power.

Macro Insights Q3 2018

01/07/2018

Inflation and trade war fears are overblown and we expect the bull market to continue accelerating upward.

Macro Insights Q2 2018

26/04/2018

Despite Q1’s pullback, we expect the bull market to continue. The global economy is in full expansion mode while corporate earnings growth remains strong.

EM Commentary

25/04/2018

Trade speculation dominated Emerging Markets headlines in March. US President Donald Trump announced plans to levy 25% tariffs on about $50 billion worth of imports from China as well as adopt new restrictions on Chinese investment in the US.

Global Developed ex-US

25/04/2018

Political uncertainty continues falling for two of the Eurozone’s biggest economies: Germany and Italy. Germany has a new government, a reboot of the “Grand Coalition” between Angela Merkel’s Christian Democratic Union (CDU) and the center-left Social Democratic Party (SPD).

US Commentary

20/04/2018

Trade war and Tech regulation fears largely replaced inflation worries during the month, conspiring to drive the S&P 500 down 2.5% in March and retest the correction’s low before regaining some ground in the month’s final week.

European Opportunities

09/10/2017

Europe is early in its credit cycle with positive momentum in economic drivers and underappreciated balance sheet strength, which should allow most European Banks to accelerate credit growth with improved profitability for at least the next few years.

A closer look at Poland

04/09/2017

As the largest economy in Eastern Europe with a strong economic relationship with developed Europe, Poland offers broad exposure to the European market.

Brexit - Initial Market Commentary

29/06/2016

The British people have officially voted to leave the European Union (EU). While Scotland, Northern Ireland and London supported remaining in the EU, Wales and the remainder of England overwhelmingly voted to leave. At final tally, 52% voted “Leave” versus 48% “Remain”. This piece breaks down the intricacies of the Brexit decision and analyses the variables behind the uncertainty clouding the markets.

"Retail Recession" Label Does Not Fit

26/05/2016

In the Q1 2016 earnings season, some department stores reported weaker-than-expected results with news of declining sales and profits. Media was quick to dramatize the reports with cries of a US “retail recession” and assertions that the consumer is tapped out —all bad signs for US growth looking forward. However, in this piece, we would humbly suggest that is incorrect.

EM Corporate Debt

18/02/2016

A summarized analysis that puts EM corporate debt into perspective and reveals the portion denominated in USD.

Investing in stock markets involves the risk of loss and there is no guarantee that all or any capital invested will be repaid. Past performance neither guarantees nor reliably indicates future performance.


About Fisher Investments Europe

Fisher Investments Europe was established in London, England in 2000. Fisher Investments Europe offers the portfolio management services of its parent company, Fisher Investments, an independent money management firm in the US founded in 1979 by investment guru Ken Fisher. Today, Fisher Investments and its affiliates oversee more than £104 billion* in assets for over 68,000 private clients and 150 institutional clients globally.* Founder Ken Fisher’s “Portfolio Strategy” column for Forbes ran from 1984 through 2016, making him the longest continually running columnist in the magazine’s 90+ year history. He has also authored several New York Times bestsellers on finance and investing. (*As of 30/09/2020)


Fisher Investments Europe Limited (FIE), authorised and regulated by the Financial Conduct Authority (FCA), is wholly owned by Fisher Asset Management, LLC, trading as Fisher Investments (FI). FIE delegates portfolio management to its parent company, FI. Unless otherwise specified, references to investment professionals, operations personnel, and middle and back office personnel are references to FI employees.