53 مقولة خالدة عن الاستثمار والحياة
"The stock market is filled with individuals who know the price of everything, but the value of nothing."
— Philip Fisher
"I don't want a lot of good investments; I want a few outstanding ones."
— Philip Fisher
"If the job has been correctly done when a common stock is purchased, the time to sell it is -- almost never."
— Philip Fisher
"The true measure of a stock's value is not its price-to-earnings ratio today, but its earnings growth potential over the next five to ten years."اقرأ التحليل الكامل →
"If a stock is truly outstanding, don't quibble over eighths and quarters. The difference between a good and bad investment isn't a few cents on the purchase price."اقرأ التحليل الكامل →
"Use a systematic checklist of fifteen points covering sales growth, profit margins, research and development, sales organization, and management quality."اقرأ التحليل الكامل →
"Talk to customers, suppliers, competitors, and former employees to build a complete picture of the company. This scuttlebutt method reveals what financial statements cannot."اقرأ التحليل الكامل →
"Before investing, understand the industry thoroughly. Know the competitive dynamics, growth drivers, and technological trends that will shape the future."اقرأ التحليل الكامل →
"Visiting management is essential. You can learn more about a company in an hour of conversation with its management than in months of studying financial statements."اقرأ التحليل الكامل →
"Short-term stock price fluctuations tell you almost nothing about the true value of a company. Focus on the business, not the ticker."اقرأ التحليل الكامل →
"The stock market is filled with individuals who know the price of everything but the value of nothing. Following the crowd leads to mediocre results."اقرأ التحليل الكامل →
"Markets consistently overreact to both good and bad news. These overreactions create opportunities for the patient, rational investor."اقرأ التحليل الكامل →
"Putting your eggs in too many baskets means you can't watch them all carefully. Concentrate on your best ideas and know them well."اقرأ التحليل الكامل →
"The real risk in investing comes from buying poor-quality companies, not from market volatility. High-quality companies naturally reduce investment risk."اقرأ التحليل الكامل →
"Frequent trading increases costs and taxes while reducing returns. The best risk management is to buy right and hold, not to trade frequently."اقرأ التحليل الكامل →
"If the job has been correctly done when a common stock is purchased, the time to sell it is almost never. Truly outstanding companies grow for decades."اقرأ التحليل الكامل →
"The greatest investment rewards come from buying companies with superior management, above-average growth in sales and earnings, and outstanding research capabilities."اقرأ التحليل الكامل →
"When an excellent company has a temporary problem, it creates a buying opportunity. The key word is temporary — make sure the underlying strength remains."اقرأ التحليل الكامل →
"The time to buy a stock is when a thorough investigation has convinced you it is a sound investment. Don't buy on tips, hunches, or hot stock advice."اقرأ التحليل الكامل →
"There are only three valid reasons to sell: you made a mistake in your analysis, the company no longer meets your criteria, or you found a much better opportunity."اقرأ التحليل الكامل →
"A stock that seems too high in price can still be a good hold if the company's growth prospects remain outstanding. Never sell just because the price has gone up."اقرأ التحليل الكامل →
"Periodically review whether your original reasons for buying still hold. If they do, hold; if they don't, sell. The thesis, not the price, should drive the decision."اقرأ التحليل الكامل →
"The most powerful force in investing is compound growth. A company growing earnings at 15% annually will quadruple earnings in ten years."اقرأ التحليل الكامل →
"Companies that consistently invest heavily in research and development create the innovations that drive future growth. R&D spending is an investment in the future."اقرأ التحليل الكامل →
"Assess management's integrity, not just competence. Management that misleads shareholders about problems will eventually destroy value for investors."اقرأ التحليل الكامل →
"Outstanding common stocks offer much greater total returns than bonds or fixed-income investments. Growth stocks, properly selected, are the surest path to wealth."اقرأ التحليل الكامل →
"Conservative investors are not those who never take risks, but those who take only well-understood risks in high-quality growth companies."اقرأ التحليل الكامل →
"Owning stocks in more companies than one can remain informed about is foolish. It is better to own a few outstanding companies than many mediocre ones."اقرأ التحليل الكامل →
"The quality of management is the single most important factor in evaluating a company. Look for management that is honest, capable, and focused on long-term growth."اقرأ التحليل الكامل →
"A company with outstanding products but a weak sales organization will underperform. Evaluate the effectiveness of the sales force as part of your analysis."اقرأ التحليل الكامل →
"Look for companies with consistently improving profit margins. This indicates pricing power, operational efficiency, and competitive advantage."اقرأ التحليل الكامل →
"In investing, as in life, the greatest rewards come to those who can wait. Patience is not just a virtue but a competitive advantage."اقرأ التحليل الكامل →
"The successful investor is usually an individual who is inherently interested in business problems. Your love of learning about companies will drive your returns."اقرأ التحليل الكامل →
"Integrity in business dealings is not just morally right but practically essential. Dishonest practices eventually catch up with both companies and investors."اقرأ التحليل الكامل →
"The best stock picks come from combining quantitative analysis with qualitative research gathered through the scuttlebutt method of industry investigation."اقرأ التحليل الكامل →
"Companies that lead in innovation within their industry are the best candidates for long-term investment. Innovation creates sustainable competitive advantages."اقرأ التحليل الكامل →
"Be cautious of growth stocks that have become too popular. When everyone knows a stock is great, the price often reflects unrealistic expectations."اقرأ التحليل الكامل →
"Don't let short-term fear cause you to sell an outstanding stock. If you've done your homework correctly, temporary price drops are noise, not signal."اقرأ التحليل الكامل →
"Following what everyone else is doing in the stock market leads to average results at best. Develop your own informed opinion and have the courage to act on it."اقرأ التحليل الكامل →
"The stock market is not a weighing machine but a voting machine. In the short run, prices reflect popularity, not value. But long-term, value wins."اقرأ التحليل الكامل →
"When the market is pessimistic about a great company, it creates the best buying opportunity. Market pessimism is your friend if you've done the research."اقرأ التحليل الكامل →
"Daily market fluctuations are irrelevant to the long-term value investor. What matters is the fundamental progress of the companies you own."اقرأ التحليل الكامل →
"Apply all fifteen evaluation points systematically: growth potential, profit margins, R&D, sales organization, management integrity, cost analysis, and more."اقرأ التحليل الكامل →
"The ideal buying time is when: 1) A great company has temporary problems, 2) A new product or process will significantly increase sales, 3) Market pessimism has created a bargain."اقرأ التحليل الكامل →
"For outstanding companies, the holding period is indefinite. Sell only if: 1) your original analysis was wrong, 2) the company no longer qualifies, or 3) a much better opportunity exists."اقرأ التحليل الكامل →
"The successful investor must develop emotional resilience. Markets will test your conviction repeatedly. Those who maintain their composure profit most."اقرأ التحليل الكامل →
"Sell only when: 1) You made a mistake in original analysis, 2) The company no longer meets the fifteen points, or 3) A clearly better opportunity exists."اقرأ التحليل الكامل →
"I don't want a lot of good investments; I want a few outstanding ones. Concentration in your best ideas is key."اقرأ التحليل الكامل →
"If the job has been correctly done when a common stock is purchased, the time to sell it is almost never."اقرأ التحليل الكامل →
"Does the management have unquestionable integrity? Management that misleads shareholders will eventually mislead investors."اقرأ التحليل الكامل →
"Does the company have a worthwhile profit margin? Growth without profit is meaningless."اقرأ التحليل الكامل →
"Does the company have a strong sales organization? Great products mean nothing if they can't be sold effectively."اقرأ التحليل الكامل →
"Does the company have an above-average research and development program that can continue to develop products that will sustain its growth?"اقرأ التحليل الكامل →
"Does the company have products or services with sufficient market potential to make possible a sizable increase in sales for at least several years?"اقرأ التحليل الكامل →
"Before buying any stock, evaluate the company against fifteen key criteria covering growth potential, management quality, and competitive position."اقرأ التحليل الكامل →
"Go out and talk to competitors, suppliers, customers, and employees. The best information comes from those who know the business firsthand."اقرأ التحليل الكامل →
"The stock market is filled with individuals who know the price of everything, but the value of nothing."
لقد جمعنا 53 مقولة موثقة لـ Philip Fisher، كل منها مع إسناد المصدر وتحليل معمّق.
Philip Fisher frequently discusses value investing, risk management, and long-term thinking.