Kenneth Fisher says to ignore those who are saying we are headed for a stock-crushing deflationary environment.

In his latest Forbes column, Fisher offers answers to several questions that may be on many investors’ minds, including the issue of whether deflation would be terrible for stocks. “Usually deflation comes from bad recessions — and is ugly,” he says. “Otherwise, like now, it’s okay. Ignore those gloomy voices, many of them the same as those who earlier foresaw quantitative easing as causing mega-inflation. Also, whatever you read lots about is surely priced in and easily ignored — a great answer for so many media-splattered topics.”

Another question Fisher addresses: whether it’s time to dive into small stocks, given that they’ve been lagging for some time now. His answer: “No. Correctly measured, they usually lag — except the first half of bull markets, when they supersoar. They will likely lag overall until our next bull.”

Fisher also offers a handful of stock picks. Among them: Spanish firm Banco Santander.