1/ Phil Fisher's 15 points to look for in potential investments, from the classic investment book, COMMON STOCKS AND UNCOMMON PROFITS.
Point #12: Does the company have a short-range or long-range outlook in regard to profits?
Point #12: Does the company have a short-range or long-range outlook in regard to profits?
2/ This might be Fisher's most important point in the entire book (though I think I say that about almost every point).
Companies interested in short-term profits will not put the customer first and won't care about vendors or suppliers, putting its long-term business at risk.
Companies interested in short-term profits will not put the customer first and won't care about vendors or suppliers, putting its long-term business at risk.
3/ So many good examples of this, but Amazon's Day 1 ethos might be the best.
In @JeffBezos 1997 shareholder letter, in a section entitled "It's All About the Long Term", Bezos makes the following points:
In @JeffBezos 1997 shareholder letter, in a section entitled "It's All About the Long Term", Bezos makes the following points:
4/ Just as investors should look to invest over long time horizons, so should they look to companies looking to invest for the long-term.
