Philip Arthur Fisher
Encyclopedia
Philip Arthur Fisher was an American stock investor best known as the author of Common Stocks and Uncommon Profits, a guide to investing that has remained in print ever since it was first published in 1958. Fisher studied business at Stanford University
. His money management company, Fisher & Co., was founded in 1931.
Philip Fisher is considered a pioneer in the field of growth investing
. Morningstar
has called him "one of the great investors of all time". In Common Stocks and Uncommon Profits, Fisher said that the best time to sell a stock was "almost never". His most famous investment was his purchase of Motorola
, a company he bought in 1955 when it was a radio manufacturer and held until his death.
Perhaps the best-known of Fisher's followers is Warren Buffett
who has said on some occasions that "he is 85% Graham
and 15% Fisher".
His son Kenneth L. Fisher also founded an investment firm.
Stanford University
The Leland Stanford Junior University, commonly referred to as Stanford University or Stanford, is a private research university on an campus located near Palo Alto, California. It is situated in the northwestern Santa Clara Valley on the San Francisco Peninsula, approximately northwest of San...
. His money management company, Fisher & Co., was founded in 1931.
Philip Fisher is considered a pioneer in the field of growth investing
Growth investing
Growth investing is a style of investment strategy. Those who follow this style, known as growth investors, invest in companies that exhibit signs of above-average growth, even if the share price appears expensive in terms of metrics such as price-to-earnings or price-to-book ratios...
. Morningstar
Morningstar, Inc.
Morningstar, Inc. is an independent investment research company based in Chicago, Illinois, USA.-Businesses:Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offers an extensive line of products and services for...
has called him "one of the great investors of all time". In Common Stocks and Uncommon Profits, Fisher said that the best time to sell a stock was "almost never". His most famous investment was his purchase of Motorola
Motorola
Motorola, Inc. was an American multinational telecommunications company based in Schaumburg, Illinois, which was eventually divided into two independent public companies, Motorola Mobility and Motorola Solutions on January 4, 2011, after losing $4.3 billion from 2007 to 2009...
, a company he bought in 1955 when it was a radio manufacturer and held until his death.
Perhaps the best-known of Fisher's followers is Warren Buffett
Warren Buffett
Warren Edward Buffett is an American business magnate, investor, and philanthropist. He is widely regarded as one of the most successful investors in the world. Often introduced as "legendary investor, Warren Buffett", he is the primary shareholder, chairman and CEO of Berkshire Hathaway. He is...
who has said on some occasions that "he is 85% Graham
Benjamin Graham
Benjamin Graham was an American economist and professional investor. Graham is considered the first proponent of value investing, an investment approach he began teaching at Columbia Business School in 1928 and subsequently refined with David Dodd through various editions of their famous book...
and 15% Fisher".
His son Kenneth L. Fisher also founded an investment firm.
Books by Philip A. Fisher
- Common Stocks and Uncommon Profits (ISBN 047111927X), Harper & Bros., 1958
- Paths to Wealth through Common Stocks, Prentice-Hall, Inc., 1960
- Conservative Investors Sleep Well, Harper & Row, 1975
- Developing an Investment Philosophy (Monograph), The Financial Analysts Research Foundation, 1980
See also
- Warren BuffettWarren BuffettWarren Edward Buffett is an American business magnate, investor, and philanthropist. He is widely regarded as one of the most successful investors in the world. Often introduced as "legendary investor, Warren Buffett", he is the primary shareholder, chairman and CEO of Berkshire Hathaway. He is...
- Kenneth L. Fisher
- Benjamin GrahamBenjamin GrahamBenjamin Graham was an American economist and professional investor. Graham is considered the first proponent of value investing, an investment approach he began teaching at Columbia Business School in 1928 and subsequently refined with David Dodd through various editions of their famous book...
- Thomas Rowe Price, Jr.Thomas Rowe Price, Jr.Thomas Rowe Price, Jr. was the founder of T. Rowe Price.Price was born in Linwood, Maryland.Mr. Price first entered the world of Wall Street Investing in the 1920’s. By 1937 he founded his investment firm, T. Rowe Price in Baltimore, Maryland...
- John Burr WilliamsJohn Burr WilliamsJohn Burr Williams , one of the first economists to view stock prices as determined by “intrinsic value”, is recognised as a founder and developer of fundamental analysis. He is best known for his 1938 text "The Theory of Investment Value", based on his Ph.D...
- Growth investingGrowth investingGrowth investing is a style of investment strategy. Those who follow this style, known as growth investors, invest in companies that exhibit signs of above-average growth, even if the share price appears expensive in terms of metrics such as price-to-earnings or price-to-book ratios...
- Wall StreetWall StreetWall Street refers to the financial district of New York City, named after and centered on the eight-block-long street running from Broadway to South Street on the East River in Lower Manhattan. Over time, the term has become a metonym for the financial markets of the United States as a whole, or...