Philip Arthur Fisher

Philip Arthur Fisher is one of the 20th century's most influential investors and writers. He is best-known for his highly influential book, "Common Stocks and Uncommon Profits," which established his reputation as one of the pioneers of modern investing. Fisher's career as an investor began during the Great Depression, as he was forced to sell off some of his father's holdings in a struggling leather business. Desperate for cash, Fisher began investing in the stock market, an endeavor that would eventually make him a millionaire several times over.

Fisher is credited with developing the concept of investing in growth stocks – those companies whose earnings will rise over time, as opposed to value stocks, which are primarily priced on the basis of past performance. He would also come up with the “scuttlebutt” system, where he would ask employees of a firm, suppliers and customers what they thought of the company, as a way of getting an early sense of how the company was performing. His focus on fundamentals, such as earnings growth, profitability and margin of safety, remains an integral part of investing today.

Fisher's written works are also noteworthy and provided a blueprint for modern investing and portfolio management. In addition to the aforementioned “Common Stocks and Uncommon Profits” (1960), he wrote “Paths to Wealth Through Common Stocks” (1932) and, more recently, “The Intelligent Investor” (1973).

The Intelligent Investor is considered one of the most important books on investing and is often seen as the gold standard of value investing. Its focus is on the long-term power of stock investing, rather than seeking quick gains, and provides investors with a set of methods for selecting stocks. In the book, Fisher described his tried-and-true methods for investing – methods that revolve around fundamentals, such as thorough research and a focus on the long-term potential of a company.

Fisher's influence on the world of investing resonates to this day. His teachings and books are still consulted by anyone seeking to build their wealth through stocks, whether they’re a novice or a seasoned investor. He also provided a blueprint for the modern investment portfolio, with his focus on diversification, fundamental analysis of stocks, and a firm commitment to the long-term.

Philip Arthur Fisher was one of the most influential investors of the 20th century and his contributions to the world of investing remain extremely important today. He left a legacy of knowledge, insight, and guidance that will continue to be useful to investors for generations to come. His clear and consistent message has had a lasting impact on the entire investment industry, and it will continue to inspire and inform investors for years to come.