Billionaire Ken Fisher made his name and fortune picking stocks. But over the years he’s also become a huge player in an arcane — and controversial — corner of Wall Street: exchange-traded notes.
The hard-selling was relentless, even infuriating, prospective customers said. Marketers called homes, spammed work email and impersonated friends, colleagues and government officials.
The state pension fund of Texas is pulling $350 million from Fisher Investments as more investors flee the firm following vulgar comments from its founder.
New Hampshire’s state pension pulled its $239 million invested with Ken Fisher, bringing the total amount divested from the billionaire’s firm to more than $2 billion.
The cold calls go out, hundreds a day, from a dank basement in the redwood hills south of San Francisco.
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Billionaire Ken Fisher is starting to encounter a backlash after he made offensive remarks at a conference in San Francisco this week.
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