Fisher: Market Mood Shifting As Bull Marches On

Forbes’ Kenneth Fisher says the market mood is changing from skepticism to optimism, which bodes well for stocks.

“Based on the numerous Q&A sessions I participated in, while cautious, investors have a lot less skepticism than they did at the same time last year,” Fisher writes in discussing his recent trip on Forbes’ annual investment cruise. “The cruisers, a decent cross-section of successful individual investors, now seek opportunity and are more hardened and conservative than in recent years. Scary headlines frighten them little.”

All of that, Fisher says, helped confirm his belief “that we’re moving from market skepticism toward optimism” as the bull market continues to mature. “That means more bull market ahead,” he says.

Fisher offers a handful of picks he says are good bets for this stage of the bull. Among them: BNP Paribas, which he says plays on two regional themes — the western US and Italy — he likes right now.

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