- Paperback: 320 pages
- Publisher: Wiley; 2 edition (August 29, 2003)
- Language: English
- ISBN-10: 0471445509
- ISBN-13: 978-0471445500
- Product Dimensions: 6 x 1.1 x 8.9 inches
- Shipping Weight: 13.6 ounces (View shipping rates and policies)
- Average Customer Review: 185 customer reviews
- Amazon Best Sellers Rank: #17,976 in Books (See Top 100 in Books)
Enter your mobile number or email address below and we'll send you a link to download the free Kindle App. Then you can start reading Kindle books on your smartphone, tablet, or computer - no Kindle device required.
To get the free app, enter your mobile phone number.
Common Stocks and Uncommon Profits and Other Writings 2nd Edition
Use the Amazon App to scan ISBNs and compare prices.
Fulfillment by Amazon (FBA) is a service we offer sellers that lets them store their products in Amazon's fulfillment centers, and we directly pack, ship, and provide customer service for these products. Something we hope you'll especially enjoy: FBA items qualify for FREE Shipping and Amazon Prime.
If you're a seller, Fulfillment by Amazon can help you increase your sales. We invite you to learn more about Fulfillment by Amazon .
The Amazon Book Review
Author interviews, book reviews, editors picks, and more. Read it now
Frequently bought together
Customers who bought this item also bought
"...written by American Investment genius.... We are delighted to have the opportunity to reproduce an extract from this classic, recently reissued..." (Financial Director, November 2003)
"...these updated classics are packed with investment wisdom..." (What Investment, November 2003)
From the Back Cover
"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."
"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 ponderingas Warren Buffett has donethe 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
Top customer reviews
There was a problem filtering reviews right now. Please try again later.
Notwithstanding the hype evidenced on the book covers and the introduction by the author's son, a highly-regarded and well-known investment manager, the author has credentials that money cannot buy. That would be fifty years of being a successful , professional, private investment manager. In this book, he will bring that experience into play as well focusing on factors that are not covered by the mainstream financial media, or as he refers to them as "the financial community. "
Here are some basic concepts that that the author will cover in his treatise: He will differentiate between a stock trader and stock investor; He will analyze what to buy and when to buy it; He will explain the movement of stocks in general or of a particular stock; He will argue the merits whether to follow the herd or to do otherwise; He will advise you whether to concentrate on intrinsic or extrinsic factors in evaluating a firm's stock; He will give you his opinion of the value of reading reports of the financial community.
Here are three key questions that he will pose and answer: Should you buy cheap or otherwise? How long should you hold on to hold a stock? When should a stock be sold? The author will provide you with his views on the value of historical prices and earnings. He will correlate stock prices with interest rates. The closest the author will come to using numbers is when he lists his fifteen points of what to look for in buying a common stock. And after listing those points, he will highlight that one point that will override the other fourteen points in not buying the stock. In fact, that one point could very well summarize the book in a single word.
As a reader, you will not get buried in a landslide of financial trivia but will learn general techniques and trends of investment analysis that often aren't considered by the statistically-oriented investors. However, in order to glean these gems of intrinisic stock information, you will have to have to forgo charts, illustrations, tables, and financial data commonly presented in stock analysis.
Some readers are bothered by the too long preface and introduction by his son Ken Fisher. It's not bad if you are interested in Phil Fisher's own life and personal characteristics. However Ken Fisher is quite different from his father's honesty. Ken Fisher looks like a salesman who focuses on selling products of his own investment company rather than an investor. Ken Fisher writes one book in one or two years in repeating the same useless things.
Back to the book, the content is merit, which I don't want to repeat here. But some other reviewers say it's not practical for average investors to do 'scuttlebutt' with CEOs of the companies. It's true but the idea should get update in your heart. Remember this book was published in 1958 for the first time, by then Fisher can only use phones and visit the companies. But now we have internet and tons of information of which we should make good use. Scuttlebutt doesn't necessariely mean talking to CEOs and even it is the case you should very easily can see many things about the CEOs in the internet. Today it should be easier for us to do Scuttlebutt as closed as professionals can do.
And this book should be read with other books on corporation valuation like Benjamin Graham's The Intelligent Investor and Security Analysis. It's a 5-star book doesn't mean you can only use this book to get rich. In Fisher's point of view, this should be mastered for sure.
I would give myself a chance, if I cannot make real money by Fisher and Graham's book I would switch to index fund and invest my time on other things. Honestly I don't believe there are other books that could really make you rich if this book cannot.
My biggest key learning from this book was how Mr. Fisher focused on earnings as what determines the value of a stock. He gave an analogy of if you were able to buy stock in your graduating high school class based on what you believed would be there future earnings potential. How would you determine their value? Would you later sell stock in a student who went on to college and had huge earnings just because he was then overvalued? Would you want to buy stock in a student who went on to earn poorly just because he had potetial for more growth?This analogy shows we are buying coporate earnings when we buy stock, and quality and future growth is what we are looking for.
This book gives 15 points to look for in buying stock.
Mr. Fisher also had a chapter on why he does not believe in efficient market theory because the performance in stocks always shows they were not valued correctly because the future performance is not reflected in the current price,stock traders have never been able to price stocks correctly, if they did their would not be such variances in stocks a year later, some go up 1000% some go down 80% rarely does the P/E ratio predict this. I highly recommend this book in your financial library.
Most recent customer reviews
I like that it makes you feel confident about a company giving great...Read more