Ken Fisher: Why This Bull Market Is the Most 'Joyless' in History

Fisher Investments Executive Chairman Ken Fisher discusses why he thinks this is the most 'joyless' bull market in history.

KEN FISHER: Contrary to John Templeton's famous line that "bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria," we're still in this process as if a gear were stripped where we're just stuck in skepticism. And while the market keeps going higher, that skepticism makes us joyless. The bull market goes on the longer that grinds that way, the longer the bull market wants to run. This is likely the longest bull market in history, but with low average annual returns per year and therefore joyless. We don't have that juice running through us that makes us say, "Yippee, this is fun!"