‘It’s a bull market’: Billionaire investor Ken Fisher urges Americans to ‘enjoy’ the market — here are 2 things he says the bears are getting wrong

“It is a bull market,” he stated. “The reality is that we've been, for the last three weeks, more or less straight off the top and there's your legendary saying that bull markets die with a whimper not with bang, traditional bear markets that are then accompanied by recession of a slow, steady start at the beginning, not a steep plunge.”

Fisher describes the recent pullback as “a steep plunge off the top.” Instead of signaling the beginning of a bear market, he views it as “an attempt at a correction.”

One of Fisher's points is that some Americans are overly focused on domestic markets; he recommends expanding their view internationally. This broader perspective can challenge two beliefs that have led people to adopt a bearish outlook.

What pessimists are missing

The first belief is about tech.

“This concept that so many people have wrongly had that the market was only about the “Magnificent Seven” or the “Fab Four” or whatever you want, is just wrong when you look at how many countries around the world that have nothing to do with tech have had all time global highs this year,” Fisher said.

The tech sector has indeed been a focus for many investors, particularly due to the exceptional performance of a group of mega-cap tech giants last year nicknamed the “Magnificent Seven.” This elite group includes Apple (AAPL), Amazon (AMZN), Alphabet (GOOGL), Meta Platforms (META), Microsoft (MSFT), Nvidia (NVDA) and Tesla (TSLA).

More recently, Amazon, Meta, Microsoft, and Nvidia have continued to perform strongly, leading strategists to dub them the "Fabulous Four."

The second belief Fisher challenged was the prevailing concern about inflation.