book common stocks and uncommon profits and other writings (wiley investment classics)

common stocks and uncommon profits and other writings wiley investment classics book by philip a. fisher

this page is designed to help investors and students of finance access and evaluate one of the most influential investment guides ever written. whether you are looking to a copy for your personal library, understand the core principles of growth investing, or decide if this classic belongs on your shelf, we provide the essential insights and resources you need to make an informed choice.

overview of a financial masterpiece

originally published in 1958, common stocks and uncommon profits and other writings wiley investment classics remains a cornerstone of modern investment theory. while many of his contemporaries focused on cold balance sheets and statistical ratios, philip a. fisher looked at the people, the products, and the potential for long-term growth. this specific edition, part of the wiley investment classics series, compiles fisher’s most vital works, offering a comprehensive look at how to identify companies that can produce exceptional returns over decades.

finding a reliable source to read or this material is the first step toward adopting a "growth" mindset. the book is famous for introducing the concept of the "scuttlebutt method," a technique where investors gather information about a company from diverse sources—competitors, former employees, and suppliers—rather than relying solely on official corporate reports. by accessing this book, you gain a framework for analyzing a companys qualitative aspects that many modern algorithms still fail to capture.

the core philosophy: beyond the numbers

the brilliance of common stocks and uncommon profits and other writings wiley investment classics lies in its simplicity and its timelessness. fisher outlines fifteen points to look for in a common stock. these range from the quality of the companys research and development to the integrity of its management team. he argues that the best time to sell a stock is "almost never," provided the original reasons for buying remain intact.

for readers who decide to the text, the "other writings" section included in this wiley edition provides additional context. it features "conservative investors sleep well" and "developing an investment philosophy," which expand on fisher’s belief that true investment success comes from discipline and deep knowledge rather than frequent trading. this collection is a must-read for anyone who wants to move beyond the noise of daily market fluctuations.

about the author: philip a. fisher

philip a. fisher is widely regarded as one of the most influential investors of all time. starting his career in 1931, he founded his own investment counseling firm, fisher & company, in san francisco. unlike many wall street figures of his era, fisher kept a low profile, focusing his energy on deep research and maintaining a highly concentrated portfolio of exceptional companies.

his credibility is perhaps best highlighted by his influence on warren buffett. buffett famously stated that his own investment style is "15% fisher and 85% benjamin graham." while graham taught the world about value and "margin of safety," fisher taught the world how to find high-quality businesses that can compound wealth indefinitely. because fisher’s career spanned several decades of market cycles, his advice carries a weight of experience that few authors can match. understanding his background helps readers appreciate why his writings remain top-tier resources for the modern era.

why this book is essential for modern investors

in an age of high-frequency trading and social media "hype" stocks, the principles found in common stocks and uncommon profits and other writings wiley investment classics act as a stabilizing force. the book encourages patience and thoroughness. it teaches you how to ignore the crowd and focus on the fundamental health of a business. if you are searching for a way to improve your investment hit rate, ing and studying fisher’s methods is an excellent investment of your time.

the wiley investment classics edition is particularly valuable because it preserves the original language while providing a clean, readable format. it serves as both a historical document of the post-war economic boom and a practical manual for today’s digital economy. the wisdom regarding "management integrity" and "labor relations" is just as applicable to todays tech giants as it was to the manufacturing powerhouses of the 1950s.

common stocks and uncommon profits and other writings wiley investment classics faq

1. is this book suitable for someone who is just starting to invest?

   yes, while some of the terminology may seem traditional, the core concepts are very accessible. fisher writes in a clear, conversational style that prioritizes common sense and business logic over complex mathematical formulas, making it an ideal starting point for growth-oriented investors.

2. what makes the wiley investment classics edition different from the original?

   this edition is a comprehensive collection. it includes the original 1958 text along with two of fishers other significant works and an introduction by his son, ken fisher. it provides a more complete picture of philip fishers evolution as a thinker than the standalone original volume.

3. what exactly is the "scuttlebutt method" mentioned in the book?

   the scuttlebutt method involves gathering "on-the-ground" information about a company by talking to its ecosystem. this includes interviewing customers, vendors, and even former executives to find out what is really happening behind the scenes, rather than just reading what the company wants you to see in its annual report.

4. how does philip fishers approach differ from "value investing"?

   traditional value investing often focuses on buying stocks that are cheap relative to their current assets or earnings. fishers growth approach focuses on buying stocks with massive future potential, even if they look "expensive" by traditional metrics today, as long as their long-term growth prospects are exceptional.

5. can i apply these 1950s principles to todays technology stocks?

   absolutely. in fact, fisher was one of the first "tech" investors, famously buying motorola in its early days. his criteria for research and development, sales organization, and profit margins are the exact metrics used today to evaluate the worlds most successful software and hardware companies.

whether you choose to read a physical copy or find a way to common stocks and uncommon profits and other writings wiley investment classics for your digital device, the knowledge contained within is timeless. it is a book that demands to be read slowly and revisited often as you grow in your financial journey.