Despite their claims to the contrary, Fisher Investments appears to be too large of an organization to give each client the personalized account servicing they deserve. Apparently, instead of concentrating their efforts on first rate stock research and implementing stock trading strategies to benefit their individual client needs, Fisher Research uses their massive resources to build and maintain a well oiled, flashy and bureaucratic marketing machine that functions similar to a worldwide mutual fund, but with less regulation, higher expenses and less predictable results than low cost mutual funds. Fisher Investments has delivered mediocre results for their clients throughout the 13 year history of their Private Client Group. A big exception to this was their amazing call to stay out of the market and/or hedge in 2001. As a result of that call they also missed the steep market decline immediately following the tragedy of 9/11. Those who believe in miracles and truly think that Fisher Investments will be able to time the market around the next disaster, I recommend sticking with Fisher Investments. The rest of us will likely be better of going with a more consistent money manager.
~ Jake Berzon, "Fisher Investments - Fishing For Business," Odesskiy Listok, January 28, 2008