Fisher Says Gridlock To Boost Stocks Again In 2015

Top strategist Kenneth Fisher says to expect 2015 to be another good year for stocks, with the global bull market pushing higher by at least 15%.

Fisher writes in his Forbes column that, just as fourth quarters in midterm election years have historically been very positive for stocks, so too have the first two quarters of the following year “because markets don’t discount the goodies in increased gridlock.” He says that 86.4% of first and second quarters following midterms have been positive for stocks.

In addition, stocks haven’t finished in negative territory in the third year of a President’s term since 1939, averaging returns of 18.5%, Fisher says, again citing gridlock.

Fisher also says that sentiment levels are far from euphoric, and adds that he thinks “Europhobes are wrong again. No recession there, though most think there is or will be.”