Forbes‘ Kenneth Fisher says investors shouldn’t let European debt fears drive them out of the market, and says he’s finding good value in stocks.
Noting that the column marks his 28th anniversary at Forbes, Fisher says the current environment is in some ways similar to how it was when he started — back then Ronald Reagan was going up against Walter Mondale in “a blah-boring election year stock-market-wise — after a long era when stocks performed poorly.” But, he says, “This is not 1984, and I have stated before that I think we are in a more bullish 1993-type market. At 61 I feel young and optimistic and see no valid reason stocks shouldn’t do as well in the next 15 years as in my first 15 here. Don’t let the seemingly futile gyrations in Europe keep you out of the market this summer.”
Fisher offers five picks he’s high on. Among them: pharma firm Bristol-Myers Squibb.