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8 Big Ideas from a Super Investor: Philip Fisher

Note: This article formed part of the April 2015 Special Report sent to subscribers of our premium newsletter Value Investing Almanack.

If you are a Warren Buffett fan, chances are slim that you haven’t heard of Philip Fisher. He belongs to the league of those very few super investors who have shaped Buffett’s investing style.

In his 2013 letter to investors, Buffett ranked Fisher’s book next to Ben Graham’s books –

…Phil Fisher put it wonderfully 54 years ago in Chapter 7 of his Common Stocks and Uncommon Profits, a book that ranks behind only The Intelligent Investor and the 1940 edition of Security Analysis in the all-time-best list for the serious investor.

Despite being considered as a super investor, Philip Fisher was little known to general public and rarely interviewed. He is widely respected and admired in the value investing circles all over the world. He is also known for his ‘scuttlebutt’ Philip Fisherapproach, which simply means seeking information from competitors, customers, and suppliers, all of whom have a vested interest in the company.

He wasn’t among those who made decisions just by reading annual reports. He believed in getting first hand information about the company from various sources.

Now, when it comes to following an advice, it’s more sensible to first take up the recommendation about “what NOT to do” instead of “what to do”. So, in the spirit of inversion, let me explore some of the don’ts in investing recommended by Fisher through his various interviews and writings.

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