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Fisher’s Week Worsens as Goldman Joins Pensions Yanking Cash

  • Fallout from remarks spurs more than $3 billion in withdrawals
  • ‘Somewhat unprecedented’ to see investors flee in response
Ken Fisher
Ken FisherPhotographer: Jonathan Fickies/Bloomberg
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It would have taken Ken Fisher only five minutes at the special meeting of the Los Angeles Fire and Police Pension Board to realize his bad week was about to get worse. Maybe that’s why he didn’t show up.

Board members castigated the 68-year-old money manager for his lewd remarks, inveighed about his non-appearance -- and then promptly withdrew a half-billion dollars of police and fire fighter pension funds from his investment firm.