Fisher Investments’ founder, Executive Chairman and Co-Chief Investment Officer Ken Fisher shares his thoughts and a key lesson from the bankruptcy of former cryptocurrency exchange, FTX. Ken says most investors won’t get their money back from FTX because most of it went out the back door—similar to other high-profile financial scandals including Bernie Madoff and Allen Stanford—because FTX made the decisions and had custody of client assets.
While the courts will decide whether FTX’s fallout was the result of criminal actions or hapless mistakes, Ken thinks there is a simple but critical lesson for investors. As Ken discussed in his 2009 book, How to Smell a Rat, investors can avoid most financial scandals by entrusting their assets to managers that separate the financial decision makers from those holding the money.
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Investing in securities involves a risk of loss. Past performance is never a guarantee of future returns. Investing in foreign stock markets involves additional risks, such as the risk of currency fluctuations. The foregoing constitutes the general views of Fisher Investments and should not be regarded as personalized investment advice. Nothing herein is intended to be a recommendation. The opinions expressed are subject to change without notice.
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• Wondering how to avoid financial scandals like FTX? Here’s Ken Fisher’s perspective.
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• Ken Fisher shares how you can avoid financial scandals.
