Common Stocks and Uncommon Profits and Other Writings (Wiley Investment Classics) 2nd Edition, Kindle Edition

4.6 out of 5 stars 1,721 ratings
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ISBN-13: 978-0471445500
ISBN-10: 0471445509
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  • Length: 300 pages
  • Word Wise: Enabled
  • Enhanced Typesetting: Enabled
  • Page Flip: Enabled
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Editorial Reviews


"...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)

--This text refers to the paperback edition.

From the Inside Flap

"I am an eager reader of whatever Phil has to say, and I recommend him to you."
—Warren Buffett

"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

--This text refers to the paperback edition.

Product details

  • ASIN ‏ : ‎ B00XCC5Y0O
  • Publisher ‏ : ‎ Wiley; 2nd edition (April 14, 2015)
  • Publication date ‏ : ‎ April 14, 2015
  • Language ‏ : ‎ English
  • File size ‏ : ‎ 1283 KB
  • Text-to-Speech ‏ : ‎ Enabled
  • Screen Reader ‏ : ‎ Supported
  • Enhanced typesetting ‏ : ‎ Enabled
  • X-Ray ‏ : ‎ Not Enabled
  • Word Wise ‏ : ‎ Enabled
  • Print length ‏ : ‎ 300 pages
  • Lending ‏ : ‎ Enabled
  • Customer Reviews:
    4.6 out of 5 stars 1,721 ratings

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Customer reviews

4.6 out of 5 stars
4.6 out of 5
1,721 global ratings

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Top reviews from other countries

4.0 out of 5 stars Why does Warren buffet buy Apple and not Amazon
Reviewed in India 🇮🇳 on December 2, 2019
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4.0 out of 5 stars Why does Warren buffet buy Apple and not Amazon
Reviewed in India 🇮🇳 on December 2, 2019
I have always wondered, as to why does Warren buffet buy certain stocks, while avoiding equally good others ? If you read this book you will know for sure. Recommended by Buffet himself this book is one of the classics, as you already probably know. Although it is dated in some sense, however the core message remains quite relevant even in today's time, as much it did perhaps 70 years ago, when the book was originally written.

Philips Fisher introduces the reader with the "Scuttlebutt" approach to stock picking, quite early on in the book. As you move further he buttress his views with data and practical example. He begins by saying that the best time to sell a stock is "never" which he practiced himself when he held the stocks of Motorola, Texas Instrument and Raychem for the entirety fo his life, although his son in the preface admits that by the end of his fathers career, he had become recalcitrant to the new stock while solely focusing on the above mentioned three top stocks.

The book can be surmised by the following philosophies :
1. Growth companies : The company should be in a growth sector meaning it sales should grow to perpetuity.
2. New Growth : The company should be able to find new avenues of growth if the current lines dry up, either through Research and Development or through inorganic acquisitions.
3. Moat : There should be sufficient barriers to entry in the product line up to prevent other players from entering the same market and usurping the incumbent player (think IPhone).

Apart from these key message he also belabours upon the "Scuttlebutt" approach most of which I found to be quite irrelevant for retail investors, because this approach requires deep understanding of the company, its management, its customers, its debtors et al. He advices the investor to speak to the management, employees and customer and get a good sense of the culture and challenges. Also there is a focus on labour/unions. Although the book is written in a different time and most of the companies discussed perhaps don't even exist today, I still found this book to be quite refreshing to read.

It is a great book foe novice and Professionals alike. It is a must have in your library. It reinforces the philosophy of "value investing" in the fast paced world of "automated trading". Enjoy !
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44 people found this helpful
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1.0 out of 5 stars Please read my comment and don't buy this book
Reviewed in the United Kingdom 🇬🇧 on July 11, 2021
2 people found this helpful
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3.0 out of 5 stars It is a classic
Reviewed in the United Kingdom 🇬🇧 on September 12, 2021
One person found this helpful
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3.0 out of 5 stars So many better finance books out there
Reviewed in the United Kingdom 🇬🇧 on June 1, 2022
5.0 out of 5 stars Another phenomenal book fro everyone interested successfully in stock market!!!
Reviewed in the United Kingdom 🇬🇧 on November 29, 2015
6 people found this helpful
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