Books Business, Finance & Law Common Stocks And Uncommon Profits And Other Writings (Wiley Investment Classics)

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Read online or download a free book: Common Stocks And Uncommon Profits And Other Writings (Wiley Investment Classics)

Pages: 288

Language: English

Publisher: John Wiley & Sons, Inc.; New edition edition (28 May 1996)

By: Philip A. Fisher(Author) George Guidall(Reader)

Book format: pdf doc docx mobi djvu epub ibooks (*An electronic version of a printed book that can be read on a computer or handheld device designed specifically for this purpose.)

"You will find lots of jewels in these pages that may do as much for you as they have for me."–from the Introduction by Kenneth L. Fisher Forbes columnist

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. He recorded these philosophies in Common Stocks and Uncommon Profits, a book considered invaluable reading when it was first published in 1958, and a must–read today.

Acclaim for Common Stocks and Uncommon Profits

"I sought out Phil Fisher after reading his Common Stocks and Uncommon Profits...When I met him, I was 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 Editor, Forbes

"My own copy [of Common Stocks and Uncommon Profits] has underlinings and marginal thoughts throughout."–John Train Author of Dance of the Money Bees

Common Stocks and Uncommon Profits and Other Writings by Philip A. Fisher Hailed by Forbes magazine as "one of the seminal figures of modern investment thinking," and a "giant" by investment wizard Warren Buffett, Philip Fisher is one of the most influential investors of all time. Admired for his investment success, he is even more widely respected for his sound investment philosophiesphilosophies that have withstood the test of almost forty years and that are regarded as gospel by the investors of today. These principles and theories were introduced by Fisher in Common Stocks and Uncommon Profits. Initially published in 1958, it is today considered an invaluable reference for investment success. Now, for the first time, a new, single edition brings this timeless classic together with the investment wisdom and insight offered in Fisher’s other acclaimed writingsConservative Investors Sleep Well and Developing an Investment Philosophy. As the first to consider a stock’s worth in terms of potential growth rather than price trends and absolute value, Fisher laid the foundation for many of today’s popular investment beliefs. His principles of selecting long–term growth stocks for their emerging value over short–term trades for initial profit continue to be studied and applied by today’s top finance professionals. In Common Stocks and Uncommon Profits, Fisher shares his philosophy, offering valuable insights into the most fundamental and important aspects of buying and selling stock. Here are solid guidelines on when and what to buy, sound reasons for selling common stock, as well as critical information on profit margins and dividends. There is also Fisher’s famous list of Top–Ten "Don’ts" for investors, complete with warnings against buying into promotional companies, over–stressing diversification, following the crowd, and buying stock just for the "tone" of its annual report. As an ideal complement to Common Stocks and Uncommon Profits, Conservative Investors Sleep Well and Developing an Investment Philosophy explore, respectively, the myriad intricacies of conservative investments and the genesis of Fisher’s unique philosophy. Both selections offer further insight into the wisdom of this great investor. As indispensable today as when they were first published, these classic writings provide keys to investment success which every investor will relish.

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Customer reviews:

  • By Guilherme Neves on 8 May 2017

    this book is the value investing version 2.0, being the first version the security analysis of ben graham which lays the foundations for the analysis of financial statements and the bargain hunting process. This book is different it gives the user tools to evaluate the company prospects from management, product and context overview, which many times is in fact much more important that the strict financials

  • By Jason Horsey on 16 March 2017

    A bit disappinted with the lack of technical details behind stocks.

  • By Davidsha on 11 September 2011

    I enjoyed reading this book, although for a typical small investor this isn't the best stock picking book. This book describes the author's method to pick companies that one can expect to achieve high growth. However, for a typical private investor, there's a couple of weaknesses. First, the book was originally written in the 1950s so it's quite dated. Amusingly it talks about the new technology of the "pocket calculator" and then there's this gem: "If a man, he usually gives but a tiny fraction to handling his investments than he devotes to work. If a woman, the time and effort given is equally small to that devoted to her normal duties". More problematic is that it focuses mostly on manufacturing industry, which might have been the most relevant in the 1950s but less so now. For example, it says you should invest "when the factory is about to come on line". The main reason for this focus is, as the author explains, where his strengths and knowledge lie. By the author's own admission the advice is less relevant to other industries. Second, the advice it gives is more useful for someone who is managing a fund and has the time to spend investigating firms. The author's main point is to spend lots of time talking to management, employees and customers of the firm to find out its prospects. I doubt most small investors could do this. It's not as if I could get a luncheon appointment with a CEO. A fund manager with more experience in this may be able to, which is why I think this book is more suited to them.One final point worth mentioning is the inexplicably pointless preface and introduction by his son, Kenneth. It serves no apparent purpose and worst comes across as an ego trip. On the first page Kenneth (the son that is) manages to mention that "Who knew that I would go on found a large investment management firm, write my own books, and become the sixth-longest-running columnist in Forbes magazine ...". Who knew and who cares? I recommend skipping the preface and introduction and go straight to the book itself!All this aside, as noted earlier I did enjoy reading this book. As a small private investor, it's not the most useful book for me (that is instead, by the way, "One up on Wall Street"). But if you're generally interested in business and fund management, this is a good read. There's lots of interesting anecdotes and gives good insight on fund management.

  • By book maniac on 6 November 2007

    If you are expecting to learn how to make quick money from the stock market by reading this book, you'll be, without doubt, disappointed. It is, however, one of the best books to help develop sound and solid knowledge about surviving the stock market and making uncommon profits in the long run.In order to grasp the general picture of the messages from the author, I rushed it through the first time I read it. And I have got a strong feeling that it pays to read this book from cover to cover. Now, I am about to read it the second time slowly, page by page.Warren Buffett has scarcely recommended books about the stock market. This book is one of the exceptions. I am a follower of Buffett's philosophy, so I have no qualms at all about recommending this book to those who aim to develop a long-term perspective of the stock market.

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