Fisher Investments’ founder, Executive Chairman and Co-Chief Investment Officer Ken Fisher provides investors an update on what he refers to as the “Midterm Miracle”—the three calendar quarters beginning October 1st of a US midterm election year. Ken says this nine month period has a high frequency of positivity and is one of the most profitable spans in stock market history. The current iteration of the Midterm Miracle, which started October of 2022, is closely tracking historical averages.
According to Ken, the stock market favors not one political party or another, but the gridlock that occurs when the legislative and executive branches are controlled by different parties. With a Democratic president and a split Congress following the 2022 midterm election cycle, legislation is destined to be watered-down—bullish for markets that thrive on predictability. This gridlock, Ken says, should continue to serve as a tailwind for a market recovery.
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Investing in securities involves a risk of loss. Past performance is never a guarantee of future returns. Investing in foreign stock markets involves additional risks, such as the risk of currency fluctuations. The foregoing constitutes the general views of Fisher Investments and should not be regarded as personalized investment advice. Nothing herein is intended to be a recommendation. The opinions expressed are subject to change without notice.
