US investor loses $600 million over sexist remarks
Fisher compared his investment choices with the way he chooses women for sex speaking at a conference in San Francisco.
The Michigan investment authority moved $600 million out of Fisher Investments after sexist comments by its CEO and founder Ken Fisher, CNBC said.
Fisher compared his investment choices with the way he chooses women for sex speaking at a conference in San Francisco. He also mentioned genitals and financier Jeffrey Epstein, who had been accused of trafficking in minors for sex and committed suicide in prison in August 2019.
The Michigan authorities called the comments completely unacceptable. Fisher himself said in an interview with Bloomberg that he had been misunderstood, and that he had repeatedly used the same expressions before and no one had taken issue with that. However, eventually, he had to apologize and admit that his words were indeed unacceptable.
That did not change the decision to take out funds from Fisher Investments, and neither did the 15-year cooperation. In 2018, Fisher managed $100 billion in assets.