Words to Remember

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Philip Fisher quote: If the job has been correctly done when a common stock is purchased, the time to sell it is almost never.

If the job has been correctly done when a common stock is purchased, the time to sell it is almost never.

Philip Fisher, Common Stocks and Uncommon Profits (1958)

Why we ran it

SpaceX raised a record $75 billion, Google was selling $80 billion of stock, and a stampede of companies wanted cash at once. The issue asked whether that was a market top or the next phase of the arms race. Fisher's answer was to judge the businesses you already own, not the calendar.

From the June 12, 2026 issue: The Cookie Jar Is Open →

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