Common Stocks and Uncommon Profits

Philip Fisher argued that the biggest fortunes come not from cheap, mediocre stocks but from buying outstanding growth companies and holding them for years. He offered a practical method, including his scuttlebutt approach of learning about a business by talking to its customers, competitors, and employees. Fisher’s focus on management quality and long horizons complemented Benjamin Graham’s number-driven approach and shaped how Warren Buffett came to invest.