Kenneth Fisher says the wild recent market swings are not the start of another 2008-like plunge, and thinks the global bull market in equities will resume “with gusto” in 2012.

“I continue to believe 2011 delivers relatively muted broad index returns, with a lot of choppiness en route, and recent volatility is perfectly in line with that,” Fisher writes for Interactive Investor’s web site. “You can expect more. But I don’t see it presaging disaster. Rather, it’s just The Great Humiliator (the proper name for the stockmarket) trying to fool you out of stocks before the bull market resumes with gusto in 2012.”

Fisher says that the Eurozone — the source of many of the recent market fears — is facing major issues, but that those issues are well known and factored into stock prices. “This is no 2008,” he says. “You will probably never see another 2008 in your lifetime. And while everyone always wants us to, we never, ever fight the last war next.”

Fisher points to a number of indicators that he says show the economy isn’t as bad as many believe, including strong U.S. retail sales and falling interest rates across the globe. He advises investors to “stay cool — and buy on volatility”, and offers three stock picks, including Garmin Ltd.