Widely respected and admired, Philip Fisher is among the most influential investors of all time. His investment philosophies, introduced almost forty years ago, are not only studied and applied by today's financiers and investors but are also regarded by many as gospel. This book is invaluable reading and has been since it was first published in 1958. The updated paperback retains the investment wisdom of the original edition and includes the perspectives of the author's son Ken Fisher, an investment guru in his own right in an expanded preface and introduction
"I sought out Phil Fisher after reading his Common Stocks and Uncommon Profits...A thorough understanding of the business, obtained by using Phil's techniques...enables one to make intelligent investment commitments."
―Warren Buffet
Book’s preface is a short biography of the Author written by his son – Kenneth L. Fisher. It’s definitely worth reading as it properly sets the mood for the book.
The book itself is quite old, so some circumstances considered by Mr. Fisher may be obsolete (cold war), but I’d say that most of the content is quite timeless. Especially Mr. Fisher’s recipe for a good analysis of long-term growth investment opportunity (the process is referred to as scuttlebutt).
As for contents of the book, I see 3 distinct areas:
1. Very detailed description of scuttlebutt method (the most valuable part, in my opinion),
2. Mr. Fisher’s insights when considering particular circumstances connected with investing,
3. The last chapter is a step-by-step guide on how to be Mr. Fisher (or work like him at least).
Mr. Fisher’s style is quite formal but restrained in the wording. For me, it was a perfect read.