common stocks and uncommon profits by philip a fisher

Also, if possible read about Chandrakant Sampat.īland, obvious and somewhat outdated. Parikh's ideas on Behavioral finance are outlined in an excellent book called Stocks to Riches. Iran's articles have been collected into a book called Memoirs of my golden articles. For perspectives on Indian markets, one can follow Parag Parikh and Mehrab Irani. PS: By combining Fisher's ideas with those of Graham's, one can develop an excellent understanding of the stock markets. This part will, however, benefit you only if you have some investing experience (at least 2-3 yrs). The third part contains some excellent ideas based on decades of investing experience of Fisher. In fact, I am not surprised that Warren Buffet calls himself 85% Graham and 15% Fisher.įinally, this book is an excellent value buy. Moreover, you'll discover that, at its core, the idea of growth investing is not much different from that of value investing. Yet this book provides such a compelling logic to understand the stocks that one will find it to be better than most of the quant dominated stocks books. You'll hardly come across any mathematical formulas in Fisher's analysis. But be warned as these techniques are not as easy to practice. Of course, Fisher's scuttlebutt technique and his 15 points for stock selection provide immense insights into the analysis style of Fisher.

For example: Should one sell if his stock has reached insane valuations so as to purchase it later at lower prices? Or how important is the dividend yield when considering a stock for long term? Moreover, the book discusses several puzzling situations which a long term investor often comes across, especially when the markets are volatile. Fisher's investing philosophy is focused on investing in potential blue chips when they are still small thereby resulting in huge gains. The book will help you to find future blue chips. (For example, one could have gained more than 9000% by investing in GRUH Finance ( a subsidiary of HDFC) when it was a small firm in early 2000s) Read this book if your aim is to gain several thousand % in the long term by concentrating on few outstanding firms with excellent management.

If Graham is the king of quantitative analysis, then Fisher is the king of qualitative analysis of stocks.

Common stocks and uncommon profits by philip a fisher