Fisher Investments' Michael Hanson on top-down equity investing
INTERVIEWSERIES
Michael Hanson, Senior Vice President of Research, Fisher Investments
November 2025
In this exclusive interview, Michael explains the benefits of a “top-down” approach to global equities investing and what’s been key to Fisher Investments’ 30 years of success navigating equity markets. He shares his views on US exceptionalism and how sentiment drives equity markets.
Watch the full interview which covers:
00:19 - Explain Fisher Investments’ top-down approach to global equity markets and how it came about?
03:34 - Why take a “top-down” approach to equities investing?
05:22 - What’s been the key to success for Fisher Investments in implementing a top-down approach to equities investing for over 30 years?
07:34 - How does sentiment drive equity markets and how does it impact performance outcomes?
09:05 - How do you view US exceptionalism?
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Michael Hanson, Senior Vice President of Research, Fisher Investments
Michael is a Senior Vice President of Research and a member of the Investment Policy Committee (IPC). In those roles, Michael oversees the Research Group and is responsible for the development of capital markets and securities research.
Michael joined Fisher Investments in 2002 and has served on the firm’s five-member IPC since 2017. Prior to his current role, he held a variety of positions, including Vice President of Portfolio Management Communications, Capital Markets Team Leader and Institutional Client Services Manager. Before joining the firm, he worked at Bear Stearns as a Corporate Finance Analyst in the Global Technology Group.
Michael regularly meets with clients globally, sharing the firm’s market outlook, current portfolio positioning and answering questions. He is the author of six books, including ‘20/20 Money: See the Markets Clearly, Gain Focus and Invest Better than the Pros’. He was also a lecturer at the Haas School of Business at the University of California, Berkeley, where he taught investment management topics.
Michael received his undergraduate degree from Claremont McKenna College and his doctorate in Depth Field Psychology and Mythology from Pacifica Institute.
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