| Topic Name: |
How is Fisher Investments? |
| Message Name: |
More from Ken Fisher |
| Date Posted: |
04/24/2002 |
| Message: |
So, we clearly hire a lot and lose a good chunk of newbee employees but not so many that have been with us for 12-24 months or longer. That isn??t terribly surprising for a firm that plans to hire primarily fresh college grads.
We lost no one in the last five years in senior management and only two people in middle management.
The firm operates in the United States, United Kingdom and Canada. We have a distinguished list of institutional clients, although not particularly more distinguished than many other investment management firms. We also have thousands of individual, high net worth clients. The one mutual fund we offer but don??t market externally, PURIX, which follows our core global strategy-identical to what I discuss in Forbes and that which is consistent with the largest number of our clients and dollars of our clients--is 5-Star rated by Morningstar and has beaten since its 1996 inception the S&P 500, NASDAQ, and Russell 2000 and just about every other material index.
Many people do not like working at Fisher Investments because we work people harder than at most places. I work harder than most of my peers. Everyone here works hard and long. It is part of the culture. We drive lots of folks nuts. When young people, or anyone, joins this firm it is a lot like joining the Marines. Lots of folks would hate it. Those that stick usually like it a lot. We have a very happy employee force overall and those that don't remain often are strident in their negative views. As you may know, Marines have quite a camaraderie amongst themselves while many civilians would hate their culture. Again, not good or bad by itself--just itself.
The firm operates very differently than most of our industry because we think they do it wrong. We??re trying very hard to be innovative. You may or may not like what the firm does but that does not make it bad. As to the comments someone made about the San Francisco Society, we ban membership and CFAs. We hate union cards.
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