Fisher discusses how the scars of the post 1929 crash will no longer be tolerated by either our people or politicians. The book is a reminder of the tremendous economic and political range this country has experienced. We are well-served to take a moment to revisit the work of one of history’s most influential investors of all time. Published in 1958, we found re-reading the book to be an extraordinary experience. We hope our notes remind today’s growth investors that profit margins are valuable when building an intelligent investment process! Common Stocks and Uncommon Profits Summary The securities analyst today is often left with little more than sales as a metric for valuation. Much of the froth that remains in today’s stock market is characterized by “growth” stocks that lose money. Get our insights direct to your inbox: SUBSCRIBE Fisher’s book which emphasizes sustainable growth. Our team shares some variant of Buffett’s quip that Berkshire Hathaway is “ 85% Graham and 15% Fisher.” 85% of Buffett’s investment process comes from Benjamin Graham’s timeless book “The Intelligent Investor” with its emphasis on value and safety. Widely respected and admired, the book creates a process for an investing philosophy focused on growth. Fisher published Common Stocks and Uncommon Profits in the hope of giving investors a systematic process to follow when seeking out great companies. Common Stocks and Uncommon Profits by Phil Fisher
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