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Institutional Investment Philosophy
Since inception, Fisher Investments' investment philosophy
has been guided by the principles of capitalism and how free capital markets
function.
Our guiding principles:
- The goal of portfolio management is to maximize the probability of beating
a benchmark
- This goal is best accomplished by analyzing the primary determinants of
benchmark return
- Capital markets are effective discounters of widely known information
- Security pricing is a function of supply and demand
Fisher Investments believes that to add value through active
management one must identify information not widely known, or interpret widely
known information correctly and differently from other market participants.
Fisher Investments applies proprietary capital markets technology to seek out
and process investment opportunities and then to exploit such information. Its
capital markets technology is developed through the study of finance theory,
history, and empiricism.
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