Billionaire money manager Ken Fisher made provocative, sexist comments and lost $1 billion—here’s what he said:
The state of Michigan withdrew $600 million in response to the sexist comments. Boston Mayor Marty Walsh announced that the city would sever its relationship with Fisher Investments, taking out $248 million of pension assets because of his "profound lack of judgement." Walsh added,"Boston will not invest in companies led by people who treat women like commodities.''
CNBC obtained an audio of the conference in which Fisher says, “Money, sex, those are the two most private things for most people, so when trying to win new clients, you need to be careful. “It’s like going up to a girl in a bar…[inaudible]…going up to a woman in a bar and saying, ‘Hey, I want to talk about what’s in your pants.’” Fisher has been banned from future Tiburon CEO Summits.
Fisher added, “I don’t know if I could, but if I was 30 years old and I had to do over again, I’d have more sex while I could. Once you get older, you’re like a Christmas tree, you know, you’re firm once a year and the balls are just for decoration.” He has now also been barred from the Evidence-Based Investing conference.
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