Fisher Apologizes for Remarks, Is Barred From Tiburon Events


(Bloomberg) -- Two days after billionaire Ken Fisher made a series of offensive comments at an event that were condemned by attendees, he now says he's really sorry.

"Some of the words and phrases I used during a recent conference to make certain points were clearly wrong and I shouldn't have made them," Fisher said Thursday in a statement. "I realize this kind of language has no place in our company or industry. I sincerely apologize."

At the event in California on Tuesday, Fisher spoke about how he built his company, Fisher Investments, which manages $112 billion. He compared the process of gaining a client's trust to "trying to get into a girl's pants" and talked about genitalia.

Soon after his remarks became public in a video posted on Twitter by a financial adviser, Fisher issued a statement through his spokesman and said his comments were misunderstood.

"While I said words he cited I don't think he heard me correctly and clearly misconstrued my meaning and certainly my intended meaning," Fisher said Wednesday. "To the extent he and any others were offended I apologize truly and sincerely."

Later, in an interview with Bloomberg, he expressed surprise by the reaction to his remarks.

"I have given a lot of talks a lot of times in a lot of places and said stuff like this and never gotten that type of response," Fisher said. "Mostly the audience understands what I am saying."

Fisher's apology on Thursday came after the conference organizer barred him from attending future events.

Tiburon Strategic Advisors Managing Partner Charles "Chip" Roame said he was "extremely disappointed," according to a statement posted on the organization's website.

The "comments lacked the dignity and respect that should be expected by any Tiburon CEO Summit speaker or attendee" and "I further barred the speaker from ever attending again," Roame said.

Roame said the remarks added to the gender diversity problem in the wealth and management industry. In one study he cited, women accounted for 58% of employees in the financial services industry, but only 48% of first and mid-level management roles and 31% of senior and executive level management roles.

(Adds Tiburon comments in 10th paragraph.)

To contact the reporters on this story: Sabrina Willmer in New York at;Gwen Everett in New York at

To contact the editors responsible for this story: Alan Mirabella at, Vincent Bielski

For more articles like this, please visit us at

©2019 Bloomberg L.P.


More Related News

'Bored' Millennial Day Traders Boost Airline ETF's Assets 2,930%

(Bloomberg) -- A once-obscure ETF tracking airlines soared past $1 billion, largely bolstered by day trading.The US Global Jets exchange-traded fund, ticker JETS, posted its 64th consecutive day of inflows on Tuesday, according to data compiled by Bloomberg. Its growth has been staggering: The ETF held

JPMorgan's Math Shows Why U.S. Stocks Can Keep Rallying

(Bloomberg) -- Think the sizzling U.S. stock rally is excessive in an economy frozen by shutdowns? From one perspective, it's just getting started.Giant piles of cash sloshing around the financial system means there's substantial ammunition yet to push risk assets higher. JPMorgan Chase & Co., meanwhile, sees potential for billions to flow into equities at the expense of bonds to rebalance portfolios. Money-market funds have lured $1.2 trillion this year, while fund managers with $591 billion overall are holding cash at levels rarely seen in history, according to Bank of America Corp.All that shows how much firepower investors have to support the market at a time when stock prices look...

Stocks Climb With Economy Reopening Amid Unrest: Markets Wrap
Stocks Climb With Economy Reopening Amid Unrest: Markets Wrap

(Bloomberg) -- U.S. stocks edged higher as investors focused on signs of economic recovery amid further tension with China, lackluster virus drug-test results and the threat of further civil unrest in America. Treasury yields edged higher and the dollar slumped.The S&P 500 Index eked out a small gain

Anonymous Vows to
Anonymous Vows to 'Expose' Minneapolis Police, Site Attacked

(Bloomberg) -- The Minneapolis Police Department's website has shown signs of a cyber-attack since late Saturday, days after a video purported to be from the hacktivist group Anonymous promised retribution for the death of George Floyd during an arrest.Websites for the police department and the city

Facebook Employees Criticize Zuckerberg
Facebook Employees Criticize Zuckerberg's Inaction Over Trump

(Bloomberg) -- Senior Facebook Inc. employees took to Twitter over the weekend to express their dismay at Chief Executive Officer Mark Zuckerberg's decision not to take action on incendiary comments posted to the social network by U.S. President Donald Trump.After the president tweeted a message with

Leave a Comment

Your email address will not be published. Required fields are marked with *

Cancel reply


Top News: Economy