Ken Fisher Chairman Exclusive Interview: 600 Trillion Won AUM Investment Giant's Diagnosis of Korean and US Stock Markets in H2 2026

Summary

Ken Fisher, Founder and Chairman of Fisher Investments, discusses the US and Korean equity outlook for H2 2026. He argues the AI/tech cycle remains optimistic rather than euphoric and expects global equities and Korean equities to rebound as long as the global bull market continues. He also sees oil prices fading after the Iran-related spike and highlights the historical US midterm election year tailwind. He is critical of Fed rate hikes and views long-term yields as globally determined.

• Fed dot plot and short-term rate forecasting are unreliable; Fisher calls further hikes a mistake.
• He expects Warsh's Fed to start well but warns chairs tend to be captured by staff.
• Tech/AI valuations are frothy but not euphoric, so the bull market can continue into 2027 absent a major shock.
• Korea is structurally volatile because Samsung and SK hynix dominate, but he expects a rebound if global equities keep rising.
• Energy wars typically push oil up before conflict and then lower; current oil below $80 supports fading crude prices.
• US midterm election year Q4 and following 9 months have historically been the strongest period, supporting H2 2026-early 2027 strength.
• He rejects the bond vigilante thesis, saying US long yields track global long yields.