Common Stocks and Uncommon Profits

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.Amir AvitzurAuthor of "Why do we sell low and buy high? The guide you must read BEFORE you invest"

Fisher's book should be 1/2 your investment library; the otherhalf should be Ben Graham's ``The Intelligent Investor''. WarrenBuffet, the world's most successful investor, describes himself as ``85% Graham, 15% Fisher.''Fisher explains the qualitative side to value investing, just as Graham explains the quantitative side. You really need both. If you follow Graham's advice insensitively, then you will find stocks which are selling cheap--because the company is truly in trouble. That's where Fisher comes in: you should examine low-priced companies from Fisher's perspective to find the ones which truly are bargains.... Online discussions are no substitute for firsthand discussion with employees, competitors, etc. You simply can't meet enough people online; some companies' employees aren't even on the Internet. ... you will end up investing only in tech stocks--which I would consider extremely short-sighted.On the other hand, online discussion is considerably better than nothing. Don't neglect the information you can find online! This source of information will become increasingly important over time.

This book is based on the assumption that nothing risked, nothing gained. In a world full of books that keep shouting themselves hoarse "Be safe, buy safe", this book presents an interesting and informative counter-view. This helps the investor be less scaredy-cat. Though caution is a good thing, caution never a fortress stormed. It's explanation of special situations and what to avoid/ what to look for is very useful.A must buy for value investors, to understand the flip side of the coin.

some insight about what is predictable and unpredictablesometimes too many words about a issue. like the one about picking stockmore simple and clear is better for me.

This is one of the most overrated business books of all times! The first time I read it, it was a torture. Then I picked it up for a second read because I figured that maybe I didn't quite get it the first time. How can so many people, including Warren Buffet, like it if it wasn't a good book? The second time I read it only confirmed my initial impressions. It is not too bad but it is clearly overrated.Fisher's investment philosophy, the way I understood it, boils down to the following: Common stocks of good companies are worth buying at any price. Just find a good business with excellent growth prospects and buy the stock. The price will take care of itself.This is the kind of approach that inflated the stocks of the so called nifty fifty in the early 1970s. Since Fisher's book was already a best seller by that time, I suspect that he was partially responsible for what has happened to the stocks of the nifty fifty.Now, maybe I didn't quite get it. Maybe Fisher didn't really mean that a good business can justify any stock price, no matter how high. Then again, I read the book twice and if I couldn't get it then he didn't make it obvious enough. Only in the last part of the book (Conservative Investors Sleep Well) he suggests that value does matter. Unfortunately for many early readers, that part of the book was not written and added until long after the nifty fifty burst.His approach toward finding future stars is not likely to work unless you do it during a bull market. Then again, almost any other investment strategy will make money in a bull market, even technical analysis. New technology developments and the state of future competition are too difficult to predict by any method. One of the few stars he ever found out was Motorola. It was a lucky shot because when he first found out the company, it was manufacturing TVs, not cell phones and pagers. Ironically, the company was soon kicked out of the television sets business for which Fisher chose them.I don't know why Warren Buffet ever said that he liked Fisher's investment philosophy. I don't thing he is scuttlebutting for the future Intels and Microsofts.Last but not least, the book is very poorly written. Fisher has absolutely no talent for a writer. His writing style is tortures for the reader. His editor probably gave up editing after the first few pages, crossed his fingers and sent the book to the printing press. Editing the book would have been equal to rewriting it. I don't think any editor would've had the patience and the time to do it.To be fair, I like some aspects of Fisher's investment philosophy. He advocates long term commitment to strong businesses with good potentials. And, he wouldn't commit unless he had done a thorough investigation of the company. There are some other gems in the book such as his discussion of stock purchase timing but the reader has to dig them out from a pile of trivia. Three stars are well deserved.

Fantastic book about investing. Mr. Fisher describes his experience starting out in the investment business just before the great depression and the 50 or so years that followed. He calls himself a growth investor, but I think anyone looking for a good solid foundation in value investing, ala Ben Graham, Warren Buffet, or Joel Greenblat, should give this book a shot.

Great book, lots of good ideas for getting at the qualitative value of a business. Every enterprising investor aught to pick this up and read it, at least once.

This is definitely the best book I have ever read on investing. It clearly describes the qualitative factors to look for in a business. Warren Buffett is a big fan of Phil Fisher's books and investment philosophy, isn't that enough. I have read these books more than once and everytime I read them I learn something new. There is a wealth of information within these pages and I emphatically recommend this book. This book is essential reading for any real investor.

My hubby is really happy with it. Good seller

Great book for someone who wants to start thinking on investment in Stock market. I read this book twice and really its aa fantastic read. This is one of the few books every investor should read my 2 cents for reading this first and then the Intelligent Investor as this book provide you on how you should go on Stock picking and Intelligent investors gives you a much deeper analysis along with what happened with the US Stock markets for some period of years.. both are must read.Allwyn

BEWARE!!! There is only one book that gets delivered and not all 3 as shown in the picture.

One of the best books I have ever read

Interesting book. Though its bit boring, the content is good.