Fisher: Don't Worry About The Bull's Age, Or Rate Hikes

Is the length of the bull market reason for concern? No way, says Kenneth Fisher.

“Bull market length says nothing, by itself, about the future,” Fisher writes in his latest Forbes column, in which he answers common questions from investors. “Only excess optimism or a gargantuan, unexpected economic problem can derail bull markets. To date we have neither.”

Another question Fisher addresses: Should investors be worried about all the talk about possible interest rate hikes? “No!” he says. “Two reasons: First, you read so much about it–so it’s surely largely priced in already. No surprise there. Second, we have a very long history of initial Fed interest rate hikes, and they say simply nothing about future stock returns statistically looking out 30, 90, 180, 360, 1,080 or 1,800 days.”

Fisher also offers his take on proper sector and country allocations, and he gives a handful of stock picks. Among them: drugmaker Actavis.