Money and Finance
From Common Stocks and Uncommon Profits:
- The Question Warren Buffett Used To Ask Every Ceo...
From Charlie Munger: The Complete Investor: Munger is a believer in the investment approaches and ideas of Philip Fisher. Fisher was a successful investor based in California who wrote an influential book entitled Common Stocks and Uncommon Profits,...
- Some Thoughts From Phil Fisher On Selling A Great (and Growing) Business...
From Common Stocks and Uncommon Profits:A word of caution may not be amiss, however, in regard to too readily selling a common stock in the hope of switching these funds into a still better one. There is always the risk that some major element in...
- Phil Fisher On The Best Way To Invest
From Common Stocks and Uncommon Profits: The purpose of this book is not to point out every way such money can be made. Rather it is to point out the best way. By the best way is meant the greatest total profit for the least risk. The type of accounting-statistical...
- The Difference Between A Good Company And A Great Company
Consider the largest stock holding in your portfolio. If I were to ask you to list ten reasons why you own the stock, what would you say? You might talk about the company's strong competitive position, its attractive profit margins, its solid balance...
- Philip Fisher's 15 Points To Look For In A Common Stock
After reading Peter Lynch's Beating the Street a few weeks ago, I decided to read another investing classic: Philip Fisher's Common Stocks and Uncommon Profits. As one of the pioneers of the modern investing industry, Fisher is often credited...
Money and Finance
Phil Fisher on management communication...
From Common Stocks and Uncommon Profits:
It is the nature of business that in even the best-run companies unexpected difficulties, profit squeezes, and unfavorable shifts in demand for their products will at times occur. Furthermore, the companies into which the investor should be buying if greatest gains are to occur are companies which over the years will constantly, through the efforts of technical research, be trying to produce and sell new products and new processes. By the law of averages, some of these are bound to be costly failures. Others will have unexpected delays and heartbreaking expenses during the early period of plant shake-down. For months on end, such extra and unbudgeted costs will spoil the most carefully laid profit forecasts for the business as a whole. Such disappointments are an inevitable part of even the most successful business. If met forthrightly and with good judgment, they are merely one of the costs of eventual success. They are frequently a sign of strength rather than weakness in a company.
How a management reacts to such matters can be a valuable clue to the investor. The management that does not report as freely when things are going badly as when they are going well usually “clams up” in this way for one of several rather significant reasons. It may not have a program worked out to solve the unanticipated difficulty. It may have become panicky. It may not have an adequate sense of responsibility to its stockholders, seeing no reason why it should report more than what may seem expedient at the moment. In any event, the investor will do well to exclude from investment any company that withholds or tries to hide bad news.
- The Question Warren Buffett Used To Ask Every Ceo...
From Charlie Munger: The Complete Investor: Munger is a believer in the investment approaches and ideas of Philip Fisher. Fisher was a successful investor based in California who wrote an influential book entitled Common Stocks and Uncommon Profits,...
- Some Thoughts From Phil Fisher On Selling A Great (and Growing) Business...
From Common Stocks and Uncommon Profits:A word of caution may not be amiss, however, in regard to too readily selling a common stock in the hope of switching these funds into a still better one. There is always the risk that some major element in...
- Phil Fisher On The Best Way To Invest
From Common Stocks and Uncommon Profits: The purpose of this book is not to point out every way such money can be made. Rather it is to point out the best way. By the best way is meant the greatest total profit for the least risk. The type of accounting-statistical...
- The Difference Between A Good Company And A Great Company
Consider the largest stock holding in your portfolio. If I were to ask you to list ten reasons why you own the stock, what would you say? You might talk about the company's strong competitive position, its attractive profit margins, its solid balance...
- Philip Fisher's 15 Points To Look For In A Common Stock
After reading Peter Lynch's Beating the Street a few weeks ago, I decided to read another investing classic: Philip Fisher's Common Stocks and Uncommon Profits. As one of the pioneers of the modern investing industry, Fisher is often credited...