While the chaos surrounding recent elections in Europe is scaring many investors, author and top-performing money manager Kenneth Fisher says it doesn’t change his bullish outlook for stocks for the year.
Fisher tells Reuters that he thinks the European debt situation won’t topple the stock market, and that the fears are overhyped. “We have seen this movie about 15 times, we should be ashamed of ourselves to fall for the same movie three years in a row,” he said. “If this isn’t priced in, I don’t know what is.”
Fisher thinks the shift toward anti-austerity candidates in Europe could actually help markets, if those candidates follow through on promises to deliver measured growth and prevent the European economy from falling further into recession, according to Reuters.