Dear Anonymous,

Your assumption that I would have fired any money manager is incorrect. I fired a money manager, who thought it was prudent to buy LEH, UBS, MOT, SI, CSC, CHL, SNE, MRK and HUM at the end of December; all of these could be had today for 20% to 40% lower than what Fisher Investments paid to ad them to my portfolio.

I fired a money manager who told me that they could save me from a bear market, yet after hiring them, I found out that this same money manager in mid May 2002 turned bullish just as markets started falling, decimating their current client portfolios by over 30% in just 5 months.

I believe that paying better attention to individual stock valuations, buying in gradually, only on dips, avoiding financials entirely and concentrating on only the strongest companies in every sector would have allowed Fisher Investments to turn in better than index performance. Their selections, on the other hand, lagged (and in my opinion will continue to lag) relevant indexes.