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Common Stocks and Uncommon Profits

Philip Fisher coined the phrase scuttlebutt to describe the process of finding out what’s really going on in a business.

I recently re-read Common Stocks and Uncommon Profits by Phillip Fisher.

It reinforced the importance of speaking to senior people within an industry – managers, suppliers, competitors and customers – to gain insights into the quality of a business. It’s the best way I have found to really find out ‘what’s going on’.