Description
Common Stocks and Uncommon Profits zeroes in on the rudiments of trading. Here, Fisher shares his philosophies in trading and how these philosophies were formed and developed over time. This book should be perused by traders who want to understand the wisdom behind investing and trading.
About the Author
Philip Fisher first served as an analyst of securities. He established Fisher & Company, which is a center for investment counseling and advising. Fisher is known for his contribution to modern investment.
Table of Contents
The book contains the following topics:
Preface What I Learned from My Father’s Writings xi
Kenneth L. Fisher
Introduction
Part One Common Stocks and Uncommon Profits
Preface
1. Clues from the Past
2. What “Scuttlebutt” Can Do
3. What to Buy: The Fifteen Points to Look for in a Common Stock
4. What to Buy: Applying This to Your Own Needs
5. When to Buy
6. When to Sell: And When Not To
7. The Hullabaloo about Dividends
8. Five Don’ts for Investors
9. Five More Don’ts for Investors
10. How I Go about Finding a Growth Stock
11. Summary and Conclusion
Part Two Conservative Investors Sleep Well
Epigraph
Introduction
1. The First Dimension of a Conservative Investment
2. The Second Dimension
3. The Third Dimension
4. The Fourth Dimension
5. More about the Fourth Dimension
6. Still More about the Fourth Dimension
Part Three Developing an Investment Philosophy
Dedication to Frank E. Block
1. Origins of a Philosophy
The Birth of Interest
Formative Experiences
First Lessons in the School of Experience
Building the Basics
The Great Bear Market
A Chance to Do My Thing
From Disaster, Opportunity Springs
A Foundation is Formed
2. Learning from Experience
Food Machinery as an Investment Opportunity
Zigging and Zagging
Contrary, but Correct
Patience and Performance
To Every Rule, There Are Exceptions . . . But Not Many
An Experiment with Market Timing
Reaching for Price, Foregoing Opportunity
3. The Philosophy Matures
E Pluribus Unum
History versus Opportunity
Lessons from the Vintage Years
Do Few Things Well
Stay or Sell in Anticipation of Possible Market Downturns?
In and Out May Be Out of the Money
The Long Shadow of Dividends
4. Is the Market Efficient?
The Fallacy of the Efficient Market
The Raychem Corporation
Raychem, Dashed Expectations, and the Crash
Raychem and the Efficient Market
Conclusion
Appendix Key Factors in Evaluating Promising Firms
Functional Factors
People Factors
Business Characteristics
Index