Fisher On The Small-Cap Myth

In his latest column, Kenneth Fisher looks back on some of the lessons he’s learned over his 30 years as a Forbes columnist.

“Originally, I thought small stocks best. Academics ‘proved’ it,” writes Fisher. “Now I view that as a liquidity trap for fools — and that most leading academics spend too much time counting angels on pinheads to fathom reality. All equity categories, correctly calculated, create near identical lifelong returns. They just get there via wildly differing paths.”

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”Regular readers know I like huge stocks in the back half of bull markets, like now,” Fisher adds. “There is a time for everything. The key is figuring out when, and it’s tricky.”

Fisher also talks about his evolution from a US only investor to a global investor. And he offers a handful of stock picks. Among them: Taiwan Semiconductor.