"Common Stocks and Uncommon Profits" is a book written by Philip Fisher, an American stockbroker and investment advisor who is widely recognized as one of the pioneers of growth investing. The book was first published in 1958 and has since become a classic in the field of investing.
The book provides valuable insight into the principles of growth investing and the strategies that Fisher used to identify and invest in companies with strong growth potential. Fisher's investment philosophy is based on the idea that investors should focus on the long-term potential of a company, rather than its short-term financial performance.
One of the key themes of the book is the importance of thorough research and due diligence when making investment decisions. Fisher emphasizes the importance of studying a company's management, products, and competitors in order to identify companies with strong growth potential. He also stresses the importance of having a long-term investment horizon and avoiding the temptation to try to time the market.
The book also provides valuable insight into the psychology of investing and the common mistakes that investors make. Fisher argues that the most successful investors are those who are able to control their emotions and avoid the common cognitive biases that can lead to poor decision-making.
Overall, "Common Stocks and Uncommon Profits" is considered a valuable resource for investors and business people, it provides valuable insight into the principles of growth investing and the strategies used by Philip Fisher, one of the pioneers of growth investing, it also provides valuable insight into the psychology of investing and the common mistakes that investors make, and it emphasizes the importance of thorough research and due diligence when making investment decisions, and having a long-term investment horizon.