(New York Post) Outspoken billionaire Ken Fisher just lost another big client due to his controversial comments likening money management to approaching a woman in a bar to have sex.
A Fidelity Investments spokesman said Monday it has dropped Fisher Investments as a money manager over allegedly sexist comments Fisher made at a conference earlier this month, Reuters reported Monday.
Fisher had managed $500 million for the mutual fund giant’s $8 billion Fidelity Strategic Advisers Small-Mid Cap Fund.
Earlier this month, the Michigan Department of Treasury, which oversees about $70 billion in the state’s pensions systems assets, fired Fisher’s eponymous firm over the comments — a loss of $600 million.
The withdrawals follow Fisher‘s comments at a recent Big Apple investment conference in which he compared the process of soliciting new clients to convincing a woman you just met to have sex.
“Money, sex, those are the two most private things for most people,” Fisher said about winning new clients. “It’s like going up to a girl in a bar,” he said before changing it to “woman” in a bar, “and saying, ‘Hey, I want to talk about what’s in your pants,’” according to audio obtained by CNBC.
Last year, the best-selling author, whose firm boasts $112 billion in assets, told attendees at another conference that he wishes he’d had more sex when he was younger, because “once you get older, you know you’re like a Christmas tree, you know you’re, you’re firm once a year and the balls are just for decoration,” according to audio obtained by CNBC.