Philip Arthur Fisher (September 8, 1907 – March 11, 2004) was an American stock investor and author, best known as a pioneer of growth investing. His investment firm, Fisher & Co., founded in 1931, managed client funds for nearly seven decades. Fisher is renowned for his "scuttlebutt" method of research – gathering information about companies by talking to customers, suppliers,...
"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."
Short-term prices reflect popularity; long-term prices reflect value.
Read Full Analysis →"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."
Market pessimism creates the best buying opportunities.
Read Full Analysis →"Daily market fluctuations are irrelevant to the long-term value investor. What matters is the fundamental progress of the companies you own."
Daily market moves are noise for long-term investors.
Read Full Analysis →Philip Fisher has 3 key principles on margin of safety. The most important one is "Market Price Is Not Value" — The stock market is not a weighing machine but a voting machine.
Philip Fisher applies margin of safety through several key principles including "Market Price Is Not Value" and "Use Market Pessimism". These principles guide practical investment decisions and have been tested across decades of market cycles.
Philip Fisher's approach to margin of safety is distinguished by a focus on long-term thinking and fundamental analysis. With 3 specific principles in this area, Philip Fisher provides a comprehensive framework that investors at any level can study and apply to improve their decision-making.
