Common Stocks And Uncommon Profits Ebook Download

Widely respected and admired, Philip Fisher is among the most influential investors of all time. His investment philosophies, introduced almost forty years ago, are not only studied and applied by today's financiers and investors, but are also regarded by many as gospel.

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This book is invaluable reading and has been since it was first published in 1958. The updated paperback retains the investment wisdom of the original edition and includes the perspectives of the author's son Ken Fisher, an investment guru in his own right in an expanded preface and introduction 'I sought out Phil Fisher after reading his Common Stocks and Uncommon Profits.A thorough understanding of the business, obtained by using Phil's techniques.enables one to make intelligent investment commitments.' --Warren Buffet. Preface: What I Learned from My Father's Writings (Kenneth L. Introduction (Kenneth L. PART ONE: COMMON STOCKS AND UNCOMMON PROFITS.

Clues from the Past. What 'Scuttlebutt' Can Do. What to Buy:The Fifteen Points to Look for in a Common Stock. What to Buy: Applying This to Your Own Needs.

When to Sell: And When Not To. The Hullabaloo about Dividends. Five Don'ts for Investors.

Five More Don'ts for Investors. How I Go about Finding a Growth Stock. Summary and Conclusion. PART TWO: CONSERVATIVE INVESTORS SLEEP WELL. The First Dimension of a Conservative Investment.

The Second Dimension. The Third Dimension. The Fourth Dimension. More about the Fourth Dimension. Still More about the Fourth Dimension.

PART THREE: DEVELOPING AN INVESTMENT PHILOSOPHY. Dedication to Frank E.

Origins of a Philosophy. The Birth of Interest. Formative Experiences. First Lessons in the School of Experience.

Building the Basics. The Great Bear Market. A Chance to Do My Thing. From Disaster Opportunity Springs. A Foundation Is Formed. Learning from Experience. Food Machinery as an Investment Opportunity.

Zigging and Zagging. Contrary but Correct. Patience and Performance. To Every Rule There Are Exceptions... But Not Many.

An Experiment with Market Timing. Reaching for Price Foregoing Opportunity. The Philosophy Matures. E Pluribus Unum. History versus Opportunity. Lessons from the Vintage Years. Do Few Things Well.

Stay or Sell in Anticipation of Possible Market Downturns? In and Out May Be Out of the Money. The Long Shadow of Dividends. Is the Market Efficient? The Fallacy of the Efficient Market.

The Raychem Corporation. Raychem Dashed Expectations and the Crash. Raychem and the Efficient Market. Appendix: Key Factors in Evaluating Promising Firms. Functional Factors.

People Factors. Business Characteristics.

Widely respected and admired, Philip Fisher is among the most influential investors of all time. His investment philosophies, introduced almost forty years ago, are not only studied and applied by today's financiers and investors, but are also regarded by many as gospel. This book is invaluable reading and has been since it was first published in 1958. The updated paperbac Widely respected and admired, Philip Fisher is among the most influential investors of all time. His investment philosophies, introduced almost forty years ago, are not only studied and applied by today's financiers and investors, but are also regarded by many as gospel. This book is invaluable reading and has been since it was first published in 1958.

The updated paperback retains the investment wisdom of the original edition and includes the perspectives of the author's son Ken Fisher, an investment guru in his own right in an expanded preface and introduction 'I sought out Phil Fisher after reading his Common Stocks and Uncommon Profits. Decision Trees For Differential Diagnosis Pdf Creator. A thorough understanding of the business, obtained by using Phil's techniques.enables one to make intelligent investment commitments.' -- Warren Buffet. Bland, obvious and somewhat outdated. Disappointing given Warren Buffet's recommendation.

I was hoping for some good ideas on identifying growth franchises that can be backed for long periods of time - most likely the common ground that Buffet finds with Phil Fisher, but instead I found a lot of obvious, MBA-style wisdom, short of real insight. Very little of what is presented is verifiable or backed up with data. The book is particularly dangerous as the basis of an investment manifesto for inve Bland, obvious and somewhat outdated.

Disappointing given Warren Buffet's recommendation. I was hoping for some good ideas on identifying growth franchises that can be backed for long periods of time - most likely the common ground that Buffet finds with Phil Fisher, but instead I found a lot of obvious, MBA-style wisdom, short of real insight. Very little of what is presented is verifiable or backed up with data. The book is particularly dangerous as the basis of an investment manifesto for investors with less savvy than Fisher as today's most esteemed companies frequently trade at high valuations, leading to their systematic underperformance as the natural forces of competition and mean reversion do their work to undermine the market's unrealistic expectations (see David Dremen's Contrarian Investment Strategies for research backing this statement). Fisher had the experience and judgement to counteract these forces but most investors do not.

Additionally, the valuation methodologies employed by the author are relatively simplistic and rely on a good deal of qualitative judgement. This may sound OK in theory but countless studies have shown otherwise, that because of innate biases, qualitative judgements tend to lead to underperformance over large samples of investors - bar a few seasoned veterans such as Warren Buffet and Peter Lynch). The main problem is that investors lack the discipline to remain unaffected by the cycles of euphoria and panic that characterise markets. The only proven way to instill this discipline is to base decisions on consistent valuation criteria - i.e. One cannot get away from the numbers. Fisher lays out a generic framework that would be a great scorecard for a business awards committee, but would be an unsatisfactory set of guidelines for long term investing success - particularly given the lack of attention on valuation. Anyone who disagrees with this statement should read Dremen's Contrarian Investment Strategies.

Clearly most of Fisher's value-add came from industry scuttlebutt and qualitative judgement - unfortunately not something one can learn much about from a book. Common Stocks is not in the same league as Ben Graham's, The Intelligent Investor, which in my view can be employed by the average investor improve his long-term performance (and is backed by substantial research by the author and subsequent studies).

For help on the qualitative aspects of investing one could do worse than reading the Buffet annual letters to shareholders. The introduction by Ken Fisher, Phil's son, must be one of the most arrogant and self-promoting forwards ever created and really puts a bad taste in the mouth at the outset. رویکرد سرمایه گذاری وارن بافت در سهام به دو صورت بوده است یکی شرکت های ته سیگاری که از بنجامین گراهام یاد گرفته است به این صورت که همان گونه که ته سیگاری هایی در کف خیابان ریخته شده اند را می شود برداشت و از پک آخرش به رایگان کشید، در بازار سهام نیز شرکت هایی وجود دارند که مانند ته سیگاری در گوشه ای افتاده اند و پایین تر از قیمت واقعیشان قیمت گذاری شده اند، وارن با خرید این سهم های ارزان در کف قیمت و اعتقاد به این که روزی این سهم ها به قیمت واقعی شان برمیگردند، منفعت می برد. کتابی که فیشر نوشته رویکرد سرمایه گذاری وارن بافت در سهام به دو صورت بوده است یکی شرکت های ته سیگاری که از بنجامین گراهام یاد گرفته است به این صورت که همان گونه که ته سیگاری هایی در کف خیابان ریخته شده اند را می شود برداشت و از پک آخرش به رایگان کشید، در بازار سهام نیز شرکت هایی وجود دارند که مانند ته سیگاری در گوشه ای افتاده اند و پایین تر از قیمت واقعیشان قیمت گذاری شده اند، وارن با خرید این سهم های ارزان در کف قیمت و اعتقاد به این که روزی این سهم ها به قیمت واقعی شان برمیگردند، منفعت می برد. کتابی که فیشر نوشته است صورت دوم رویکرد وارن بافت را نشان می دهد که آن خرید سهم های گران قیمت است سهم های فیشری سهم های شرکت های رشدی هستند که دارای پارامترهای خوب بازار و مدیریت می باشند، در زیر باید ها و نبایدهای فیشری در مورد این شرکت ها را بخوانید: در واقع این کتاب به معرفی شرکت های پیشتاز بازار و خرید سهام آن ها و نگه داری سهام و نفروختن این سهام تا پایان عمر می پردازد، درس های سرمایه گذاری خوبی می شود از فیلیپ فیشر آموخت که به حق دید خوبی در حوزه ی سرمایه گذاری به افراد می دهد. Jaan Tere Naam Movie Hd Video Songs Free Download there. من کتاب سرمایه گذار هوشمند بنجامین گراهام را که بخش هایی از آن به فارسی ترجمه شده است را یک سال پیش خواندم، از آن کتاب چیز زیادی متوجه نشدم، ولی این کتاب به عنوان دومین کتاب در حوزه ی بازار سهام را به همه توصیه میکنم متن و نگارش کتاب اصلاً مهیج و چشم نواز نیست و نویسنده قصد ندارد که شما را سرگرم کند، ولی اگر صبوری کنید و کتاب را تمام کنید؛ مجهز به خرد والای نویسنده می شوید. از نظر فیشر، تحقیق، نقش کلیدی در سرمایه‌گذاری موفق دارد.

او کلمه «scuttlebutt» را وضع کرد که شاید مهم‌ترین جنبه‌ی فلسفه‌ی سرمایه‌گذاری وی باشد «scuttlebutt» یعنی این که یک سرمایه گذار برود و تحقیق کند و مکان شرکت را ببیند از دیگران و کارکنان آن شرکت درباره ی آن شرکت سوال بپرسد. برای من خیلی عجیب بود که اسکاتلبات (این کار به این سادگی) مهم ترین اصل سرمایه گذاری یکی از نوابغ این کار است فیشر معتقد بود که اگر شرکتی نکته‌هایی که تعیین‌کننده‌ی پتانسیل رشد بلند‌مدت شرکت هستند را رعایت کند سهام آن شرکت علیرغم هر‌گونه زیان کوتاه‌مدت، نهایتا در دراز‌مدت به سود می‌انجامد. او گفته‌ی معروفی دارد مبنی بر این‌که اگر با تحقیق و تحلیل گسترده، شرکت درستی خریداری کنید، وقت فروش سهام آن، تقریبا «هیچ‌وقت» خواهد بود. If Graham is the king of quantitative analysis, then Fisher is the king of qualitative analysis of stocks. Read this book if your aim is to gain several thousand% in the long term by concentrating on few outstanding firms with excellent management.

(For example, one could have gained more than 9000% by investing in GRUH Finance ( a subsidiary of HDFC) when it was a small firm in early 2000s) The book will help you to find future blue chips. Fisher's investing philosophy is focused on investing If Graham is the king of quantitative analysis, then Fisher is the king of qualitative analysis of stocks. Read this book if your aim is to gain several thousand% in the long term by concentrating on few outstanding firms with excellent management. (For example, one could have gained more than 9000% by investing in GRUH Finance ( a subsidiary of HDFC) when it was a small firm in early 2000s) The book will help you to find future blue chips. Fisher's investing philosophy is focused on investing in potential blue chips when they are still small thereby resulting in huge gains. Moreover, the book discusses several puzzling situations which a long term investor often comes across, especially when the markets are volatile.

For example: Should one sell if his stock has reached insane valuations so as to purchase it later at lower prices? Or how important is the dividend yield when considering a stock for long term? Of course, Fisher's scuttlebutt technique and his 15 points for stock selection provide immense insights into the analysis style of Fisher. But be warned as these techniques are not as easy to practice. You'll hardly come across any mathematical formulas in Fisher's analysis. Yet this book provides such a compelling logic to understand the stocks that one will find it to be better than most of the quant dominated stocks books. Moreover, you'll discover that, at its core, the idea of growth investing is not much different from that of value investing.

In fact, I am not surprised that Warren Buffet calls himself 85% Graham and 15% Fisher. Finally, this book is an excellent value buy. It is actually three books in one.

These are: 1) Common Stocks and Uncommon Profits 2) Conservative Investors Sleep Well 3) Developing an Investment Philosophy. The third part contains some excellent ideas based on decades of investing experience of Fisher.

This part will, however, benefit you only if you have some investing experience (at least 2-3 yrs). PS: By combining Fisher's ideas with those of Graham's, one can develop an excellent understanding of the stock markets. For perspectives on Indian markets, one can follow Parag Parikh and Mehrab Irani. Iran's articles have been collected into a book called Memoirs of my golden articles.

Parikh's ideas on Behavioral finance are outlined in an excellent book called Stocks to Riches. Also, if possible read about Chandrakant Sampat. When I first discovered my interest in investing, Common Stocks and Uncommon Profits is one of the first books I read. I remember being enthralled by the notion of taking what seemed incomprehensible and boiling it down to a simple decision--invest or not. Fisher's approach requires common sense and conviction, but most importantly, is repeatable.

There are many awful 'investing' books out there that seize on people's need to be cutting edge and innovative. Well, not everything changes every year When I first discovered my interest in investing, Common Stocks and Uncommon Profits is one of the first books I read. I remember being enthralled by the notion of taking what seemed incomprehensible and boiling it down to a simple decision--invest or not. Fisher's approach requires common sense and conviction, but most importantly, is repeatable. There are many awful 'investing' books out there that seize on people's need to be cutting edge and innovative. Well, not everything changes every year.

Eating in moderation and healthy on average will always be better than the latest fad diet. Investing with patience, after research, and with a long-term view, while avoiding ever-present behavioral pitfalls will always lead to better returns, better sleep, and a happier retirement. This is my second read of Fisher's book, so it was more of a quick review than my original detailed study.

Nonetheless, here are some salient points that are worth listing (if for no other reason than my own review one day.): apply your time to solvable tasks not senseless economic predictions; a properly chosen stock might never be sold; trust smart investment research, not business insiders; speak to insiders to confirm research, not as an early source; and don't underestimate the importance of company culture. Although this book was written almost sixty years ago, the wisdom the legendary investor Philip Fisher shares through it remains of high value to everyone interested in the stock market, and investing as a whole.Honestly, it is a classic, that I also recommend to everyone who's goal is to understand what makes a company great, and how to distinguish it from the mediocre ones out there.

It is a book full of wisdom, that will (at least) enlighten you, and help you make a better decisions. As for t Although this book was written almost sixty years ago, the wisdom the legendary investor Philip Fisher shares through it remains of high value to everyone interested in the stock market, and investing as a whole.Honestly, it is a classic, that I also recommend to everyone who's goal is to understand what makes a company great, and how to distinguish it from the mediocre ones out there.

It is a book full of wisdom, that will (at least) enlighten you, and help you make a better decisions. As for the rating - 5/5 absolutely! This book challenged me given its emphasis on growth investing and the scuttlebutt approach. I think I struggled with it because I prefer the simplicity and inherent beauty of the value investing methodology. I invest by identifying undervalued assets, analyzing measures of profitability, liquidity, solvency, and cash flow. I parse the balance sheet in particular and income statement and cash flow statement to a lesser extent.

Phil Fisher recommends an alternative approach. He prefers to researc This book challenged me given its emphasis on growth investing and the scuttlebutt approach. I think I struggled with it because I prefer the simplicity and inherent beauty of the value investing methodology. I invest by identifying undervalued assets, analyzing measures of profitability, liquidity, solvency, and cash flow.

I parse the balance sheet in particular and income statement and cash flow statement to a lesser extent. Phil Fisher recommends an alternative approach. He prefers to research a company's management, its sale force, its research arm, its employee relations, and other qualitative factors to determine the growth in a company's earnings over the long term.

I had assumed prior to reading this book that such an approach would add little value given the difficulty of predicting future earnings growth. I have not completely changed my mind after reading Fisher's book, but I do at least appreciate his perspective and think that formulating an opinion on a company's earnings growth drivers should matter in addition to determining whether a company's shares trade at a sufficiently low multiple to earnings, book value, and cash flow. Fisher argues from first principles in this book. As opposed to other great investment books including the Intelligent Investor, Security Analysis, and Investments by Bodie, Kane, and Marcus, this book falls short in its quantitative rigor.

Fisher claims that dividends do not matter as much as most investors believe. I'd like to believe him. But I've also seen charts showing the long-term dominance of dividend-paying stocks over non-dividend paying stocks. Moreover, Fisher claims to favor growth stocks over value stocks with low price-to-earnings ratios.

Over time, though, low price-to-earnings stocks outperform high price-to-earnings stocks. Again, I wanted to believe Fisher and favor a growth-investing philosophy; but I don't think the empirical data supports his earnestness for a growth over value approach.

Nonetheless, this book challenged me and deserves kudos for its originality and boldness. Having read the classics on value investment, and was expecting something similar with 'Common Stocks and Uncommon Profits', yet it is a completely different book. Doesn't go into the details of fundamentals analysis, because his investment focus is growth stocks he does something much more interesting, he goes into the detail of how is the company actually run and what are its prospects, linking this analysis to whether or not that stock is investment worthy, Having read the classics on value investment, and was expecting something similar with 'Common Stocks and Uncommon Profits', yet it is a completely different book. Doesn't go into the details of fundamentals analysis, because his investment focus is growth stocks he does something much more interesting, he goes into the detail of how is the company actually run and what are its prospects, linking this analysis to whether or not that stock is investment worthy, i.e. If the company has what it takes to have above average growth in the future. So, even though is presented as an investment book, it is actually a book full of deep meaningful insights on business strategy. I recommend it to anyone interested in management.

I must also highlight the touching intro written by the author's son, that really gives a humane image of Philip A. Fisher, putting a face on the insights and helping the reader understand the reasoning and the experiences behind the development this investment philosofy. The book was really good in giving you the mindset of how to find and what to look for in the potential winning stocks. In this book, it is mainly focusing on looking at the company's fundamental. The book teaches you how to use the scuttle butt method or a method that is used to extract information related to the company's performance and evaluate whether this company is worthwhile for investment.

Moreover, it also teaches when to buy and more importantly when to sell. It also point out common The book was really good in giving you the mindset of how to find and what to look for in the potential winning stocks. In this book, it is mainly focusing on looking at the company's fundamental.

The book teaches you how to use the scuttle butt method or a method that is used to extract information related to the company's performance and evaluate whether this company is worthwhile for investment. Moreover, it also teaches when to buy and more importantly when to sell. It also point out common mistakes of investors to remind what not to do and what to watch out. The most important part and the part that I find to be very useful is the last chapter of this book which discuss about the investment philosophy and the author prior investment examples, which he elaborated in a bibliography-like story. Because there are so many investment principles in this book, the author kindly wrote down summary of every chapters and everything he discussed in the book at the end of the last chapter. The book really taught me a lot and I found it to be very useful and applicable, even in Thai's market. Personally, I really like the part where he discussed about new things in the company; he said 'one should look for a company that do 'research' to create 'new products' that can generate a strong revenue for the company at least several years and the revenue should cover the whole researching cost for it to be a worthwhile investment'.

I'm strongly recommending this book to anyone who are seriously looking for a good investment book and for those who work in the financial field especially one who works in brokerage firms. They must have this book! Warren Buffet said that he listens to whatever Phillip A. I believe now that make two of us. Common Stocks And Uncommon Profits by Philip A.

Fisher is a book about investments and how to be successful when investing in stocks. Fisher divides his book into three parts. First with common stocks, conservative investments, and developing an investment philosophy. In these sections Fisher emphasizes what to look for in a growth stock, the characteristics of a profitable business, and how his experiences in the stock market helped to develop his own philosophy. There are many things that I Common Stocks And Uncommon Profits by Philip A. Fisher is a book about investments and how to be successful when investing in stocks.

Fisher divides his book into three parts. First with common stocks, conservative investments, and developing an investment philosophy. In these sections Fisher emphasizes what to look for in a growth stock, the characteristics of a profitable business, and how his experiences in the stock market helped to develop his own philosophy. There are many things that I like about this book. A few of these things are that it gives a very detailed description of what to look for in a profitable investment as well as what makes a good business. For example, in chapter three of section one Fisher explicitly describes in fifteen points, what to look for in a common stocks when you are planning to buy. Fisher also describes the characteristics of a good business in which he goes in depth in section two by explaining the management, strategic marketing, financial skill, and people that make up an excellent company.

However, when he is explaining how the most successful companies operate, her often uses certain companies that are all in the same industry so the reader never really knows how businesses in other fields of interest to them operate and how they gain wealth as well. Although Fisher is very repetitive in the companies he uses in his examples, I would recommend this book to aspiring investors. This information this book gives is very detailed and it gives the reader insight on what to look for in a common stock including what to buy, when to buy, and when to sell. An excellent and thoughtful book on the investing process. It also debunks my previous conception of value investing as going only for old, staid companies, Fisher makes a beeline for the growth-oriented stocks that he thinks will multiply several fold in value over the coming years -- only he won't overpay for them. I like, also, the short autobiography at the end, especially his quotation of Shakespeare: 'There is a tide in the affairs of men which, taken at the flood, leads on to fortune.'

Str An excellent and thoughtful book on the investing process. It also debunks my previous conception of value investing as going only for old, staid companies, Fisher makes a beeline for the growth-oriented stocks that he thinks will multiply several fold in value over the coming years -- only he won't overpay for them. I like, also, the short autobiography at the end, especially his quotation of Shakespeare: 'There is a tide in the affairs of men which, taken at the flood, leads on to fortune.' Strikingly, parts of the book seem so fresh and relevant, written as they are some two decades ago. This makes me wonder: perhaps an age, an era, is less defined by technology/infrastructure and more by whether the thoughts and ideas of men in earlier years continue to be echoed by those of later years. Some peripheral details, of course, are no longer relevant, but much of the investment process, the observations of investor behavior, the insights on good management, still resonate.

Coincident to this, the Shakespeare quote was written before the stock market evolved! I don't think we're quite in the same era though; however, it is curious to imagine what Shakespeare observed to make such comments. I wonder if it is from a History play - perhaps men's fortunes in politics are shaped as much by seizing opportunity and riding momentum as they are in investing. The great investor Phillip Fisher wrote this book more than fifty years ago. In this book Mr. Fisher describes interesting ways of acquiring more information about companies that you wish to invest in.

He describes how to identify outstanding companies, how to determine companies' competitive advantages, and what to look for when buying a company, as well as when to sell a company and when not to. Don't miss reading part two of the book, 'Conservative investors sleep well.' This book is a must fo The great investor Phillip Fisher wrote this book more than fifty years ago. In this book Mr.

Fisher describes interesting ways of acquiring more information about companies that you wish to invest in. He describes how to identify outstanding companies, how to determine companies' competitive advantages, and what to look for when buying a company, as well as when to sell a company and when not to.

Don't miss reading part two of the book, 'Conservative investors sleep well.' This book is a must for those who are investing from a business point of view. The book provided a great framework and understanding of the questions that you need to ask before investing in a company and where one should look for answers. The author even utilizes a method that is more common today than in the past - a list of don'ts.

Many of the companies that appear in the book do not exist anymore but I believe that the book lessons are as valid as they were 50 years ago. Many will say “these are simple and basic lessons”, but how many investors really go through his checklists and discover the true business behind the ticker? Highly recommended for the business mind investor.

I have mixed feelings about this book. The general idea of the book enforces the importance of intrinsic value, that if an investor does his due diligence in researching common stocks, owning just a few stocks for long-term promises handsome reward. However, the method or framework for evaluation provided in the book is hard to carry out for retail investors without contacts or connections. The framework also relies much on qualitative assessment, completely dismisses quantitative and statistica I have mixed feelings about this book. The general idea of the book enforces the importance of intrinsic value, that if an investor does his due diligence in researching common stocks, owning just a few stocks for long-term promises handsome reward.

However, the method or framework for evaluation provided in the book is hard to carry out for retail investors without contacts or connections. The framework also relies much on qualitative assessment, completely dismisses quantitative and statistical data. The book might be useful for fund managers, or investors with sufficient connections that they can have a meeting with a company management to carry out the mentioned assessment.

Otherwise read this book with a pinch of salt. A well written book on the fundamentals of long position strategy. Fisher goes into detail in explaining the rationality behind each of his recommendations/strategies. Fisher uses fictional examples as well as sharing his real life experiences as well. Specifically, I found his 15 point system to be relevant as opposed to the many outdated finance strategies/books out there as well as his approach on finding & researching growth stocks towards the end of the book. Overall a great book and I A well written book on the fundamentals of long position strategy. Fisher goes into detail in explaining the rationality behind each of his recommendations/strategies.

Fisher uses fictional examples as well as sharing his real life experiences as well. Specifically, I found his 15 point system to be relevant as opposed to the many outdated finance strategies/books out there as well as his approach on finding & researching growth stocks towards the end of the book. Overall a great book and I recommend it to all who are interested in long-term growth stocks. Quick read and informative. Very interesting writing on the way successful companies work in the 1950's (not massively different to today). Touch of the Horatio Alger to stretches of the prose. Fisher basically says he gets all his information from his stockbroking pals which is bad news for any newbies and once sorta tells you to just go to an investment advisor instead of trying it yourself.

His focus on information gather correlates with my experience of how difficult it is to find out about Quick read and informative. Very interesting writing on the way successful companies work in the 1950's (not massively different to today). Touch of the Horatio Alger to stretches of the prose. Fisher basically says he gets all his information from his stockbroking pals which is bad news for any newbies and once sorta tells you to just go to an investment advisor instead of trying it yourself. His focus on information gather correlates with my experience of how difficult it is to find out about companies. The low grade because of the fact it was a chore more than an interest/pleasure read.

Philip Arthur Fisher was an American stock investor best known as the author of Common Stocks and Uncommon Profits, a guide to investing that has remained in print ever since it was first published in 1958. His career began in 1928 when he dropped out of the newly created Stanford Graduate School of Business (later he would return to be one of only three people ever to teach the investment course) Philip Arthur Fisher was an American stock investor best known as the author of Common Stocks and Uncommon Profits, a guide to investing that has remained in print ever since it was first published in 1958. His career began in 1928 when he dropped out of the newly created Stanford Graduate School of Business (later he would return to be one of only three people ever to teach the investment course) to work as a securities analyst with the Anglo-London Bank in San Francisco. Fisher's famous 'Fifteen Points to Look for in a Common Stock' from 'Common Stocks and Uncommon Profits' are a qualitative guide to finding well managed companies with growth prospects.

“Such a study indicates that the greatest investment reward comes to those who by good luck or good sense find the occasional company that over the years can grow in sales and profits far more than industry as a whole. It further shows that when we believe we have found such a company we had better stick with it for a long period of time. It gives us a strong hint that such companies need not necessarily be young and small. Instead, regardless of size, what really counts is a management having both a determination to attain further important growth and an ability to bring its plans to completion.” —.