Ken Fisher who is the CEO of Fisher Investments had a week ago made comments during a summit which took place in San Francisco in which he had compared raising funds to picking up a woman for sex in the bar. Now as a result of the lewd comments, the Michigan state has taken back $600 million which it had given to the Fisher Investments for purpose of the growing of its pension fund. The Michigan Treasury department oversees close to $70 billion in their assets pension system.
In the addition to comparing the raising of funds with the picking up of women, it had also been reported that Fisher had reportedly made remarks about genitalia and also mentioned Jeffrey Epstein.
In a letter, Jon Braeutigam the Michigan Chief Investment Officer had relayed that the Fisher Investments had been relieved of the duties due to the completely unacceptable comments of Fisher.
Fisher originally had been defiant when the backlash had first emerged and instead of claiming that comments had not been taken properly in context and also added that he had given many talks and a lot of times and in many places and said things like this but the response had not been this way.
An example of what he meant by that revealed that he had in a talk last year in a conference that he had wished that he had more sex in his younger days since once he got older he became like a Christmas tree.
He had later apologized for the most recent remarks that he had made by saying that a few of his words and phrases which were used in the recent conferences to make a few points which were taken out of context.