{"version":"1.0","type":"rich","provider_name":"Acast","provider_url":"https://acast.com","height":250,"width":700,"html":"<iframe src=\"https://embed.acast.com/$/68c7e32f666ba430d6a7547c/68ee1f1251a2f461341bf3f7?\" frameBorder=\"0\" width=\"700\" height=\"250\"></iframe>","title":"Common Stocks and Uncommon Profits — Philip Fisher","thumbnail_width":200,"thumbnail_height":200,"thumbnail_url":"https://open-images.acast.com/shows/68c7e32f666ba430d6a7547c/1760435107985-13038a70-72b3-4f82-9225-33f6c17b55fc.jpeg?height=200","description":"<p>In this episode of Summed, we deliver a complete <em>Common Stocks and Uncommon Profits</em> summary—Philip Fisher’s classic on how to identify outstanding growth companies and hold them for years. In ~20 minutes, you’ll learn Fisher’s scuttlebutt research (talking to suppliers, customers, competitors), his famous 15-point checklist for management quality and runway, when to buy, add, or hold, and why “don’t sell too soon” is a powerful rule. Perfect for beginners and busy listeners who want a practical way to turn real-world insight into long-term investing edge.</p><p><br></p><p><strong>About the author</strong></p><p>Philip A. Fisher (1907–2004) was a pioneering growth investor whose ideas influenced legends like Warren Buffett—especially the focus on quality businesses, exceptional management, and long holding periods.</p><p><br></p><p><strong>Key takeaways </strong></p><ul><li>Scuttlebutt method: learn from an ecosystem—customers, vendors, competitors, ex-employees.</li><li>15-point Fisher checklist: size of market, competitive edge, sales organization, R&amp;D effectiveness, profit margins, integrity/ability of management, and more.</li><li>Buy right, hold long: concentrate in a few great businesses; let compounding work.</li><li>Add on progress, not dips: increase when the business executes, not just when price falls.</li><li>Don’t over-diversify: too many holdings dilute attention and results.</li><li>When to sell: thesis broken, management deteriorates, or a clearly superior opportunity arises.</li></ul><p><br></p><p><strong>This week’s playbook </strong></p><ol><li>Build a one-page scuttlebutt plan for a company you use: list 3 customers, 2 suppliers, 1 competitor to contact or research.</li><li>Run Fisher’s 15-point checklist (adapted) and score your top idea 0–2 on each point.</li><li>Write a hold thesis with 2–3 milestones; add only if milestones are met.</li><li>Trim diworsification: consider consolidating small “why do I own this?” positions.</li></ol>","author_name":"Summed Podcast "}