Ken Fisher’s Non-US Columns

金價大漲54％，該追嗎？3數字看黃金「閃亮陷阱」

By Ken Fisher, Business Weekly, Thursday, November 13, 2025

截至十月二十日，今年黃金已上漲五四％，尤其自八月底以來，漲幅近三○％，大勝台股與全球股市，成為媒體焦點。金價狂飆反映了對貿易戰的焦慮、通膨擔憂、地緣政治的動盪，及其自身高漲的魅力。

Voici les trois questions clés qui préoccupent actuellement les investisseurs

By Ken Fisher, La Libre, Tuesday, November 11, 2025

Les Bourses de la zone euro enchaînent les records tandis qu'aux États-Unis et dans le monde, les marchés s'envolent eux aussi. Malgré tout, les craintes demeurent. Voici trois grandes questions qui préoccupent actuellement les investisseurs… ainsi que des clés de lecture pour déceler ce que les autres ne voient pas.

Lad dig ikke narre af gevinster på guld

By Ken Fisher, Børsen, Monday, November 10, 2025

Vil guldets kursstigning fortsætte? Fans af guld kalder oktobers fald en “købsmulighed” og fremhæver guldets stigning på 35 pct. frem til 28. oktober (langt bedre end både danske og globale aktier) – og de er sikre på, at mere venter. Lad dig ikke narre af hypen.

La vigueur de l’euro n’affaiblira pas votre portefeuille – par Ken Fisher

By Ken Fisher, L'Opinion, Wednesday, November 5, 2025

Les plus pessimistes affirment que la hausse de l’euro de 12,5 % en 2025 face au dollar et sa progression de 6,1 % par rapport à un panier plus large de devises sont de mauvais augure. Ils y voient un frein aux exportations, déjà fragiles, alors que les perturbations sur le front des droits de douane s’éternisent, malmenant l’économie et les actions prétendument « risquées » de la France.

解答五大疑慮 保持牛市心態

By Ken Fisher, Hong Kong Economic Journal, Tuesday, November 4, 2025

2025年已過去10個月，恒指、美股及全球其他股市均接近高位。即使中國股票長期受壓，但亦從4月的低位大幅回升，逐步逼近至2021年的高位，實在可喜可賀！然而，市場重大憂慮及不明朗因素仍然存在。讓筆者逐一解答投資者提出的關鍵問題，以揮去憂慮之謎。 隨着美國公司的生產線回流國內，投資者應如何部署？ 生產 ...

Don’t believe the valuation devastation fears

By Ken Fisher, Australian Financial Review, Tuesday, November 4, 2025

What do you believe that is actually false? For most investors, the price/earnings ratio (P/E) and other valuation metrics’ knack for foretelling stocks’ future is practically hardwired into their brains. So much so, few ever question it. Hence today’s lofty ASX and world valuations spark fear, supposedly signalling a burgeoning bubble poised to pop. But flat out: valuations don’t predict stocks’ direction. Full stop! They never have? Heresy? Think history—as in decades of it proving today’s high valuations don’t portend ASX devastation or direction--at all.

Turn down the drama – inflation is not returning

By Ken Fisher, The National, Tuesday, November 4, 2025

Is hot global inflation set to resurge? Widely feared consumer price index acceleration in the US, UK and elsewhere – alongside US tariffs – has many fearing a return to the 2021-2022 period. That supposedly will whack global consumers and “much needed” 2026 rate cuts.

The benign truth hidden behind currency fears

By Ken Fisher, Business Times Singapore, Monday, November 3, 2025

WHETHER a currency is strong or weak, someone always fears its swings. In 2025, it has been worries over US dollar “weakness”. Bears hype its 2025 plunge against the soaring euro, Swiss franc and “Asia’s Swiss franc” – the Singapore dollar – as a signal that investors are increasingly fleeing US assets.

Lassen Sie sich nicht von den Goldgewinnen täuschen

By Ken Fisher, Handelszeitung, Wednesday, October 29, 2025

Steigt der Goldpreis weiter? Bis zum 15. Oktober ist er um 42 Prozent gestiegen und übertrifft damit die Gewinne der US-, Schweizer und globalen Aktienmärkte – trotz Handelskonflikten, Putin und weiterer Unsicherheiten. Für viele, besonders in einem traditionell hartgeld- und metallaffinen Land wie der Schweiz, erhöht das die Attraktivität von Gold.

What every investor needs to know about gold’s historic rally — whether it continues or not

By Ken Fisher, New York Post, Monday, October 27, 2025

It’s up 55% this year and up nearly 25% since late August – trouncing US and global stocks and stealing headlines. It plays on trade war angst, lingering inflation fears, geopolitical gyrations – and of course, its own iconic and distinctly glittery allure.

But the price of gold, after hitting an all-time high of $4,359.40 on Oct. 20, has since tumbled 4.5% inside of a week. If you rode gold’s rocket ride up, good for you. But that makes this an even better time to address – steely-eyed – just what gold actually is.