Conservative Investors Sleep Well

by Philip A. Fisher

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Genres: Finance, Money, Business, Nonfiction

180 pages, Hardcover

First published January 1, 1975

About the author

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.

His career began in 1928 when he dropped out of the newly created Stanford Graduate School of Business (later he would return to be one of only three people ever to teach the investment course) to work as a securities analyst with the Anglo-London Bank in San Francisco.

Fisher's famous "Fifteen Points to Look for in a Common Stock" from "Common Stocks and Uncommon Profits" are a qualitative guide to finding well managed companies with growth prospects.

Reviews

[Jozef Gajdos · Rating 4 out of 5]

What I found most interesting was a glimpse into a sentiment prevailing after the 1973-74 market crash. Fisher makes a case to buy stocks which turned out to be an excellent advice.
The book summarizes the factors that make a great investment and I would definitely recommend it to anyone interested in investing.

[Jeremy Lee · Rating 4 out of 5]

I blinked and I was 15. I was riding the bus home. The sun was setting and it was getting dark. It was October. It was cold. The only things on my mind were hockey and girls, but mostly girls. No stresses in the world, the peace of innocence. I smiled at everyone, I was friends with everyone. I didn't have these walls, I remembered to breathe. In contrast to how I feel now, I wasn't nervous to breathe. But when I look at me now, who I am today, I am exactly who I wanted to be. Despite all his flaws, all his scars, all the people who look at him and believe that he won't be, he is exactly the person he needs to be. He is better than his wildest imaginations of who he could be. 15 year old me would be proud of 23 year old he. 15 year old me would believe in 23 year old he. He would just remind him to smile and breathe.

[Dox Thanh · Rating 3 out of 5]

Cuốn sách làm rõ hơn những cách thức mua bán cổ phiếu trong cuốn "Cổ phiếu thường, lợi nhuận phi thường" với những ví dụ kinh nghiệm thực tế của tác giả.
Main mind set chính vẫn là lựa chọn cổ phiếu mà giá thị trường đang thấp hơn so với giá trị nội tại. Cách thức lựa chọn nhấn mạnh đến các yếu tố của doanh nghiệp đặc biệt về trình độ quản lý cũng như tầm nhìn của ban quản trị doanh nghiệp.
Cổ tức chia hàng năm là một cái bẫy. Khi một doanh nghiệp chi trả cổ tức quá nhiều so với lợi nhuận chỉ làm cho giá thị trường tăng ngắn hạn thế nhưng sẽ khiến công ty không đủ lực để tái và mở rộng đầu tư - điều làm nên giá trị tăng vượt bậc sau này của cổ phiếu.

[Ryan Madden · Rating 4 out of 5]

I actually preferred it to Common Stocks and Uncommon Profits, although they are both very good and complement each other. I read this book as part of the Common Stocks and Uncommon Profits and Other Writings book that I found at the library. I like this one more because he goes more into pricing and when to buy. I would recommend Phillip Fisher's writings.

[Bryan Rhodes · Rating 3 out of 5]

Decent continuation of Common Stocks and Uncommon Profits.

Like CS and UP, this book lays out good insight for LT investing (not quick wins and selling) and setting an investment strategy.

[Arya]

Good

[周 大為 · Rating 5 out of 5]

簡單扼要說明如何挑選好股票

個人書摘：
https://philog8sophia.blogspot.com/20...

[Zhong Sheng · Rating 3 out of 5]

it is a repeat and further illustration of the uncommon profits and common stocks. Four interesting new points mentioned:

What is the conservativeness, this definition has been quoted many times by warren buffet.

The dynamic nature of an enterprise.

What is a reasonable price?

How reliable is the market consensus?

Worthy reading.

[Phil Spitzer · Rating 3 out of 5]

Written after "Common Stocks and Uncommon Profits", this feels like a book Phil Fisher decided he'd write to ride the wave of his investment fame. He states many of the same principles, except describes then in a less-straight forward way. Not the best investment book I've read.