Phillip Fisher was an American investor and author who is widely regarded as one of the pioneers of modern investment theory. He is best known for his investment philosophy, which focused on investing in high-quality growth stocks for the long-term. Fisher’s approach to investing was highly influential and has been adopted by many successful investors, including Warren Buffet.
Fisher was born on September 8, 1907, in San Francisco, California. He graduated from Stanford University in 1928 with a degree in economics. After graduation, he worked for a number of investment firms, including Anglo California National Bank, where he served as a securities analyst.
In 1931, Fisher founded Fisher & Company, an investment counseling firm that focused on managing money for high net worth individuals and institutions. The firm was highly successful, and Fisher became known as one of the most respected investors of his time.
Fisher’s personal net worth is not well documented, but it is known that he managed over $100 million in assets at Fisher & Company at the height of his career. Fisher was a wealthy man, but he lived a relatively modest life, eschewing flashy cars and expensive clothes. He was known for his frugal habits and his commitment to using his wealth for philanthropic purposes.
- Fisher was an early adopter of corporate social responsibility, and he believed that companies that treated their employees well and acted ethically were more likely to be successful over the long-term. He often visited companies and interviewed employees to get a better understanding of their corporate culture and practices. (Source: “Common Stocks and Uncommon Profits” by Phillip Fisher)
- Fisher was a mentor to Warren Buffett, who has described him as one of the most important influences on his investment philosophy. Buffett has said that Fisher’s book, “Common Stocks and Uncommon Profits,” was one of the most important books he ever read on investing. (Source: CNBC, “Warren Buffett’s $1 million bet: Index funds vs. hedge funds”)
- Fisher was a noted philanthropist, and he donated significant sums of money to causes he believed in, including education and healthcare. He established the Phillip Fisher Charitable Trust, which has provided funding for a variety of organizations, including the University of California, San Francisco. (Source: San Francisco Chronicle, “Philanthropist Phillip Fisher dies at 89”)
Fisher’s investment philosophy and approach to stock analysis are still highly regarded by investment professionals today. According to John Reese, CEO of Validea, “Fisher’s methodology is a great starting point for any investor looking for high-quality growth stocks.” (Source: Forbes, “The Five Best Investing Books for Beginners”)
Fisher is the author of several books on investing, including “Common Stocks and Uncommon Profits,” which is widely regarded as a classic in the field of investment theory. In this book, Fisher outlines his approach to investing in growth stocks, emphasizing the importance of thorough research and a long-term perspective.
Fisher also wrote “Paths to Wealth Through Common Stocks,” which provides a detailed look at his investment philosophy and includes case studies of successful investments he made over the course of his career.
There have been several books written about Fisher, including “The Warren Buffett Way” by Robert G. Hagstrom, which includes a chapter on Fisher’s influence on Buffett’s investment philosophy. Another book, “Phil Fisher: Collected Works, Forecasts, and Commentaries” by Phillip A. Fisher, provides a comprehensive overview of Fisher’s investment philosophy and includes a collection of his writings and interviews.
Fisher was widely respected in the investment community, and his death in 2004 was covered by several major newspapers. The New York Times described him as a “pioneering investor and investment theorist” in its obituary. The San Francisco Chronicle highlighted his philanthropy, noting that he had donated more than $75 million to various causes over the course of his life.
Phillip Fisher was a highly influential investor and author who is widely regarded as one of the pioneers of modern investment theory. His approach to investing, which emphasized long-term growth and high-quality stocks, has been adopted by many successful investors, including Warren Buffet. Fisher’s legacy continues to influence investors today, and his books and writings remain popular among those seeking to adopt a disciplined, research-driven approach to investing.