The Price Tag For Ken Fishers Lewd Remarks: Nearly $1 Billion, And Counting

Ken Fisher, Chairman and CEO, Fisher Investments, speaking during a conference

When noted wealth manager Ken Fisher faced criticism for off-color comments at a financial services conference, he initially brushed off the backlash. As the furor grew, he apologized.

But now it’s starting to hit home. On Wednesday, the City of Boston pulled about $248 million in pension funds from Fisher Investments.

Earlier: Wealth manager Ken Fisher apologizes after backlash for off-color comments

Previously, Michigan’s state pension fund pulled about $600 million, and Philadelphia divested about $54 million. The exodus may not be over. Reuters reported that the city of Los Angeles was also re-considering its relationship with Fisher.

“As with other pension funds, we are very concerned with the inappropriate comments made by Mr. Fisher,” the system’s manager told.

Reuters previously reported that Fidelity Investments, which called Fisher’s comments “highly inappropriate,” is reviewing its relationship with the money manager’s firm.

“The views he expressed do not align in any way with our company’s values,” Fidelity spokesman Vincent Loporchio told the news service. “We do not tolerate these types of comments at our company.”

Fisher’s comments at the Tiburon CEO Summit in San Francisco were originally made public by other attendees, in violation of non-disclosure agreements they had signed to attend. Wealth manager Alex Chalekian first reported them, on Twitter.

On LinkedIn, Fisher’s son, Nathan, defended his father. “My father’s brain is wired differently from most people’s, and that is part of why he’s been successful at what he does,” Nathan wrote. “However, this also means he relates to people differently and doesn’t always interpret social cues in conventional ways.”

Fisher Investments did not immediately respond to requests for comment.

RECENT NEWS

Indias Stock Market Surge: A Sectoral Deep Dive And The Modi Effect

In the landscape of global finance, few markets have captivated investor interest quite like India's, particularly again... Read more

Navigating New Horizons: The Entry Of Crypto-ETNs In The UK Market And Its Ripple Effects

In an unprecedented move that marks a significant pivot in the United Kingdom's regulatory approach to digital assets, t... Read more

Navigating The New Frontier: Investing In The Age Of Artificial Intelligence

In recent months, the financial world has witnessed a phenomenon that has reshaped the landscape of investment: the boom... Read more

The Future Of Finance: How Cryptocurrency ETFs Are Changing The Investment Landscape

In an unprecedented move that marked a milestone for the digital currency world, the U.S. Securities and Exchange Commis... Read more

Financial Markets Embark On A Resilient Path Amidst Macro-Economic Optimism

Author: Brett Hurll                            &nb... Read more

Nikkei Takes Hit From Japans Vigorous Yen Verbal Intervention, But Yens Gain Lacks Strength

Nikkei tumbled sharply in Asian session today, largely in response to Yen’s rebound late yesterday, which followed s... Read more