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Common Stocks and Uncommon Profits (Wiley Investment Classics) | 
 enlarge | Author: Philip A. Fisher
Publisher: Wiley
Category: Book
List Price: $100.00
Buy New: $32.00
You Save: $68.00 (68%)
New (1) Used (3) Collectible (1) from $31.36
Avg. Customer Rating:  53 reviews
Sales Rank: 1778774
Media: Hardcover
Edition: Limited
Number Of Items: 1
Pages: 182
Shipping Weight (lbs): 0.9
Dimensions (in): 8.6 x 6 x 0.8
ISBN: 0471246093
Dewey Decimal Number: 332
EAN: 9780471246091
ASIN: 0471246093
Publication Date: November 7, 1997
Availability: Usually ships in 1-2 business days
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Product Description
"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
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| Customer Reviews: Read 48 more reviews...
 Great Book for Long-term Investors September 28, 2008
This book makes me want to finish up any other project I'm currently working on so I can spend my free time finding good investments. Excellent book, not to mention it's recommended by Warren Buffett.
I was disappointed, however, that there wasn't an Unabridged Audio CD version. And the reader of the abridged audio CD is rather boring, but overall I'm very glad I found this book.
The philosophy of long-term investing. September 25, 2008
This is an outstanding outline of the philosophy for long-term investing. The text is somewhat abstract and difficult to read at times, but it is very insightful and well worth the effort. I generally prefer this book over Ben Graham's work.
 A disappointment to say the least July 30, 2008
I had read other reviews of this book that gave it high marks. I have no idea why. The book is nothing but generalities or suggestions the average investor can not use. For example, his point 10 in evaluating a company is: How good are the company's cost analysis and accounting controls? Then he goes on to say that the average investor has no idea. Brilliant! If you want to read a good book, get "The Intelligent Investor" by Benjemin Graham instead. Leave this one on the shelf.
 Absolutely "boring" May 12, 2008
3 out of 4 found this review helpful
I bought this book on the belief it could be helpful since it is widely acclaimed, but I discovered that is far from being an "investor's bible"
First. It spend too many pages (about 30 or more) in "Family stories and affairs" that is a pure "torture" and absolutely useless to the reader eager to learn about investement strategies...This could be good maybe on a Fisher Bio book, but not here...I bet that while you are reading this part you will end up doing exactly like me...just skipping many of those pages.
Then...The book lost itself on many "stories" about many companies and the market in general without any useful insights or which analytical/dynamical approaches were followed.
I think it deserves 2 stars for the effort, but nothing more...
To me, was absolutely boring. Maybe I didn't understand the book "purpose", I don't know...But while reading, I started to get bored and skipped many pages...Finally, I just quit reading it before finishing...Got nothing from it.
I don't really know why this book is so acclaimed...And I'm wondering why Buffett says that He's a Fisher follower after reading this book...What He could have learned from this reading?
Maybe to buy and hold a good stock over the years? I believe this kind of investing style requires any book to learn but just patience and following fashions and trends, like those who bought Apple Computer stock when the iPod frenzy was launched; by just being patient any investor would have made 5 times his/her money in these last years, The same is true for Research In Motion and many more companies that are living a great momentum in their products today.
But it's just a matter of following the fashions of "hot" products rather than any sort of stock market skill and this could be really dangerous. Think of investors that today are buying like nuts solar tech stocks.
In my opinion...The Intelligent Investor by Ben Graham is the world's best book on investing and a light-year far a better book than this one.
Boring and uninspiring February 29, 2008
4 out of 4 found this review helpful
As a Warren Buffett fan, I finally got to reading this book which is highly recommended by him. Buffett, it is said, is 85% Ben Graham and 15% Philip Fisher - whatever that means. I think that is a nice slogan but Buffett is really 100% Buffett. Unlike Graham and Fisher, Buffett is more than a money manager. Buffett has an incredible ability to buy entire companies with their management included.
I wanted to like Fisher's book, but I found it so boring that I quit after about 100 pages. Normally I don't write reviews for books that I quit (after all it is possible that I did not give the book a fair chance), but I figured if I read more than a third of a book I should be allowed to critique it and hopefully help future readers. I hope this review helps you.
Fisher guides us through 15 points to study before buying stock in a company. His points are certainly valid but they are too academic. Furthermore he does not guide the reader as to how to go about really acquiring the necessary knowledge. He dedicates three pages to "scuttlebutt" which is supposed to help us learn how to go about acquiring the necessary information. His writing style is very dull. I can read a dull book if it teaches me stuff but I did not find this book educational. The book is a better fit for management consultants who have to make fancy presentations to their clients than to investors. Fisher advocates buying growth stocks with certain characteristics, but there is no discussion on the price the investor has to pay for the growth. You can buy an outstanding company but if you overpay for it then it is a lousy investment. If you invested in Microsoft, a well managed company that is almost a monopoly in 1999, your returns would not be that impressive today. In the past 9 years nothing particularly went wrong with Microsoft - it is just that the price was too high in 1999.
If you are still considering purchasing this book, I recommend scanning the chapter on the "15 points". If it clicks then maybe it is the right book for you.
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