If you would like to read a more detailed overview of Fisher’s book, please check out our free executive summary of Common Stocks and Uncommon Profits. Fisher’s approach is deeply rooted in the idea that intangible factors can produce enormous impacts on the long-term value of common stock picks. If you’re looking to read a book that helps bridge the gap of understanding between these two approaches, this is a great place to start.
Instead, Buffett suggests that investors who make this binary distinction are demonstrating their lack of understanding instead of aptitude. Although many investors think they need to identify themselves as either a value investor or a growth investor, Buffett tends to disagree with this idea. More specifically, Buffett says he is 85% Graham and 15% Fisher. By the late 1980’s, it became well known that Warren Buffett identified some of his approach as being influenced by Philip Fisher’s classic book, Common Stocks and Uncommon Profits.
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