Common Stocks and Uncommon Profits !
Philip narrates how he got into the markets from a school boy desperate to buy a share, to managing Fisher and Co. The book is divided into three parts, part one being common stocks and uncommon profits, part two conservative investor sleep well and part three developing an investment philosophy. PART I Common stocks and Uncommon profit Chapter 1 Clues from the past This chapter outlines what changes were made in the market in the last century from coming up of FED to banking regulations. Fisher found out that what works is finding great companies and staying with them for an extended period of time. He explains business cycles, management’s vision, depression, inflation, unemployment, deficits, bond yields and other basic terminology which takes up substance from the past. He lays down all these points to provide two conclusions: To explain timing of markets in this complex economical environment in very difficult. More opportunities are available today than it was 50 yea...