Common Stocks and Uncommon Profits

Submitted by Book Library on 15 May, 2010 - 00:10

Critical Praise for Common Stocks and Uncommon Profits and Other Writings You will find lots of jewels in these pages that may do as much for you as they have for me. Kenneth L. Fisher I sought out Phil Fisher after reading his Common Stocks and Uncommon Profits and Other Writings. When I met him, I was as impressed by the man as by his ideas. A thorough understanding of the business, obtained by using Phil’s techniques. Enables one to make intelligent investment commitments.

Warren Buffett Little known to the public, rarely interviewed, and accepting few clients, Philip Fisher is nevertheless read and studied by most thoughtful investment professionals. everyone will profit from pondering as Warren Buffett has done the investment principles Fisher espouses. James W. Michaels former editor, Forbes My own copy of Common Stocks and Uncommon Profits and Other Writings (Wiley Investment Classics) and Other Writings] has underlining and marginal thoughts throughout. John Train author of Dance of the Money Bees

Updated features include a new Preface and Introduction from Kenneth L. Fisher 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 finance professionals, but are also regarded by many as gospel. Common Stocks and Uncommon Profits and Other Writings reveals these timeless philosophies.

Positive Review of Book

I've not heard of the name "Philip Fisher" in my entire school years (4 yrs Undergrad. b-school & 2 yrs MBA) even I've been majoring in Finance. The "fundamental" approach in investing, as opposed to looking at a "beta", has been so ignored by the academic as it's "not objective enough" or that it has no math involved. Indeed, the book is 95% art & 5% science, and there're no certain ways to pick up the technique. However, the book makes so much sense to me that I had to read it twice.

The principles are sound and stand through the test of time. Most investing books disappear after a few years, and this one is still as good. Some of the techniques are hard to put into practice such as "getting to know the management" and "investigate the competitors", but this book lets you know that selecting an outstanding long term investment involves more home works than most people are willing to do nowadays. The tradeoff btw. "Easy money" and risk always exists even in today's stock market most people don't know what kind of risk they're undertaking.

Negative Review of Book

I had read other reviews of this book that gave it high marks. I have no idea why. The book is nothing but generalities or suggestions the average investor can not use. For example, his point 10 in evaluating a company is: How good are the company's cost analysis and accounting controls? Then he goes on to say that the average investor has no idea. Brilliant! If you want to read a good book, get "The Intelligent Investor" by Benjemin Graham instead. Leave this one on the shelf.

Author Biography

Philip A. Fisher began his career as a securities analyst in 1928 and founded Fisher & Company, an investment counseling business, in 1931. He is known as one of the pioneers of modern investment theory.
Kenneth L. Fisher writes the "Portfolio Strategy" column for Forbes magazine and serves as Chairman and Chief Investment Officer of Fisher Investments, Inc., a firm that manages financial assets for institutions and high-net-worth individuals around the world.

Table of Contents

Part. 1 Common Stocks and Uncommon Profits

  1. Clues from the Past
  2. What's "Scuttlebutt" Can Do
  3. What to Buy: The Fifteen Points to Look for in a Common Stock
  4. What to Buy: Applying This to Your Own Needs
  5. When to Buy
  6. When to Sell: And When Not To
  7. The Hullabaloo about Dividends
  8. Five Don'ts for Investors
  9. Five More Don'ts for Investors
  10. How I Go about Finding a Growth Stock
  11. Summary and Conclusion

Part. 2 Conservative Investors Sleep Well

  1. The First Dimension of a Conservative Investment
  2. The Second Dimension
  3. The Third Dimension
  4. The Fourth Dimension
  5. More about the Fourth Dimension
  6. Still More about the Fourth Dimension

Part. 3 Developing an Investment Philosophy

  1. Origins of a Philosophy
  2. Learning from Experience
  3. The Philosophy Matures
  4. Is the Market Efficient?

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