COMMON STOCK AND UNCOMMON PROFITS PDF
PDF Drive is your search engine for PDF files. Common Stocks and Uncommon Profits, , pages, Philip A. Fisher, , about fifteen years to understand Common Stocks and Uncommon Profits. When I first read the book, it made darned little sense. I was eight. It was a waste of. Who is Phil Fisher? Before writing this book, Fisher handled considerable funds for a number of significant investors. Many people, from small investors to.
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Common Stocks and Uncommon Profits and Other Writings - Ebook download as PDF File .pdf) or read book online. In Common Stocks and Uncommon Profits, Fisher said that the best time to sell a stock was "almost never". His most famous investment was his purchase of. Common Stocks and Uncommon Profits and Other Writings. This book is dedicated to all investors, large and small, who do NOT adhere to the philosophy: " I.
Summary and Conclusion. 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. 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.
Common Stocks and Uncommon Profits, Phillip Fisher
Learning from Experience. Food Machinery as an Investment Opportunity. Zigging and Zagging. Contrary but Correct. Patience and Performance. 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. The Long Shadow of Dividends. Is the Market Efficient? The Fallacy of the Efficient Market.
The Raychem Corporation. Fisher Transcript One of the best books on investment was written in nineteen fifty eight I think I read it in around by Phil Fischer called Common Stocks and Uncommon Profits and all the countries or companies went to jail. But it talked about the importance or the usefulness of what he called the scuttlebutt method. And you know that was something I didn't learn from Graham but every now and then it's turned out to be very useful.
Now it doesn't solve everything. I mean there's a whole lot of moisture so you do it with American Express. So will scan and are still doing the Apple you know decades later. In certain cases you actually can learn a lot just by asking a lot of questions and I give Phil Fischer credit.
That book goes back a lot of years but but Charlie said that some of the companies he picked as winners forever did sort of peter out. But but the basic idea that you can learn a lot of things just just just by asking.
In some cases I mean I used to I mean if I got interested in the coal industry just say to pick pick one out of the air. When I was much younger more energetic if I went and talked to the heads of 10 coal companies and I asked each one of them.
Way later into the conversation after they got feeling very felt like talking. And I would just you know I just said you had to go away for 10 years on a desert island and you had to put all of your family's money into one of your competitors which one would it be and why.
And then I'd ask them if they had to shell short one of their competitors for 10 years. All our family money why everybody loves talking about their competitors and if you do that with 10 different companies you'll probably have a better fix on the economics of the coal industry than any one of those individuals has. I mean there's ways of getting at things and sometimes are useful sometimes or not but sometimes that can be very useful and and you know the idea of just learning more all the time.
If we'd been offered a chance to go on a gold record right after it was invented we probably would have said to them yeah it would look kind of silly to us.
Well unless we drank it now Chartley listen now he's right. I mean we don't we don't foresee things that we haven't got a lot of evidence on. I mean we know when we want to see a lot of them we're talking about a consumer product.
We want to see how a consumer product behaves under a lot of different circumstances and then we want to use something. Actually there was a book by Paul Fisher written around called Common Stocks and Uncommon Profits is one of the great books on investing and it talks about the scuttlebutt method of investing which was quite a ways from what Ben Graham taught me in terms of figures.
Common Stocks and Uncommon Profits
But it's a very very good book and you can learn a lot you know just by by going out and using some shoe leather. Now they call them channel checks now or something like that but it's you can get a feel for some products.
And then there are others you can. And then sometimes you're wrong but but it is a good technique. It's an important investing technique. I would say that and antenna and Todd do a lot of that and they help some people to help them out on doing it too.
Charlie he's done it with Costco. I mean he's he's he is. I mean all the time he is finding new virtues in Costco and. And he's right. Incidentally I mean Costco has an enormous appeal to its constituency.
You know they they delight they surprise and delight their customers.Incidentally I mean Costco has an enormous appeal to its constituency. And When Not To. I mean he's he's he is. Make sure you evaluate the funding used and account for that in your investment thesis.
It's an important investing technique.
Contrary but Correct.
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