Investing for Growth: How to Make Money by Only Buying the Best Companies in the World – An Anthology of Investment Writing, 2010–20
2020
Framework
by
Terry Smith
A framework-driven book by Terry Smith, founder of Fundsmith Equity Fund. This curated collection of two decades’ worth of investment letters and essays lays out his core philosophy: buy high-quality businesses in public markets, hold them long-term, and ignore market noise.
Buy a CopyJermaine's Notes
July 2023
Strong focus on free cash flow yield and return on capital employed—Terry explains why they matter. He’s a straight shooter who breaks down key growth investing concepts with clarity and real examples. A good complement for fans of Buffett’s style, but with a stronger tilt toward growth. Read 2020 hardcover.
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Common Stocks and Uncommon Profits and Other Writings
June 2023
A framework book by Philip Fisher, a pioneer of investing in growth companies in the stock market. Fisher shares his principles for generating above-average returns by identifying high-quality companies with strong long-term growth potential and holding them over time. He explains his “Scuttlebutt” research method and outlines his 15-point checklist for evaluating companies. The book presents his approach in clear language that the average investor can understand.
Warren Buffett “sought out Phil Fisher” after reading this book. Buffett adopted many of Fisher’s principles when he shifted from buying fair companies at cheap prices to buying great companies at fair prices. This is a classic investment book filled with timeless principles. I liked Fisher’s “Scuttlebutt” research method, which encourages gathering firsthand insights to gain an edge beyond financial statements. Originally published in 1958, the book was republished in 1996 and 2003.