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While on the surface it looked like a calm week for the stock market, there was a lot of turbulence down below. Rising interest rates caused investors to rotate out of once high-flying momentum and growth equities in favor of beaten-down value stocks.This week’s “What Goes Up” podcast breaks it all down with Ken Fisher, the author of 11 books and billionaire founder of Fisher Investments.“It’s kind of like being a boxer,” Fisher explains. “If you’re a boxer, and you plan to never get hit, you’re in the wrong game. You never want to have portfolios extreme enough that when a little wiggle happens, people pull their hair out.”“Everything that I ever do I’m trying to do so that I’ve got a counter-bet,” he says. “You’re supposed to build a portfolio that way in the first place.’’Mentioned in this podcast:  Rob Arnott Wants to Take a Victory Lap on Factor Crowding Call

To contact the authors of this story: Sarah Ponczek in New York at sponczek2@bloomberg.netMichael P. Regan in New York at mregan12@bloomberg.net

To contact the editor responsible for this story: Topher Forhecz at tforhecz@bloomberg.net, David Rovella

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