First up, remain overweight foreign stocks vs. U.S. stocks.
He suggests a portfolio with material exposure to U.S. stocks, but well under 50%.
Meanwhile, the S&P 500 is up almost 20% this year and that’s in-line with what’s traditionally seen in a bull market, according to Fisher, who is Chairman of Fisher Investments.
“This year in the U.S. stock market is the average annual return of a bull market in history,” Fisher said in an interview with TheStreet. “It’s not an above average year – people forget that.”