Fisher: New Normal Concept Is "Idiotic"

While many have been talking about — and fearing — a “New Normal” of slower growth for the U.S. economy and stock market, author and top money manager Kenneth Fisher says the notion is “idiotic”.

Speaking at the Forbes Global CEO Conference in Sydney, Fisher said things aren’t so different this time around. “We are chimpanzees with no memory,” he said, according to Bloomberg. “The next 10 years are going to be just as good as the 1990s. The problems in this current environment we think are so different, and so new and so unique. It’s the same stupid old normal we’ve always had. We’ve got a great future.”

Fisher, who has an excellent long-term track record despite some off-base market calls during the financial crisis, added, “We can quibble about details, but right now, we’ve got the world snarky, skeptical, pessimistic, which is normal a year and a half after the bottom of a big bear market. It’s what we always get.”

Fisher also offered his take on the potential revaluation of the Chinese Yuan.

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