All Marketers are (Liars) Story TellersThis is one book of my favourite author Seth that I never bought, much less read. Somehow the title didn't resonate. Seth however reckons its own of his better books and managed to convince the publishers to change the name from "All Marketers are Liars" to "All Marketers are Story Tellers". He has posted more details, including the new forward here. This book is about worldviews—the biases and expectations and shortcuts we use to get through the world. In other words, many things that are true are true because you believe them. Impressed by the new foreword I decided to read this book.
I'm intrigued by stock market's movements. Everytime I develop sime theory goes bust within a few days of being convinced. I hired an independent consultant to manage my portfolio and it turned out to be disaster and now I invest completely in mutual funds, transferring the burden into the investment manager. However my quest to understand the stock market continues. This book by Philip Fisher is considered classic by many and written especially for a lay person. Fisher points out that the largest wealth via investing has been made in one of two ways. First, buying stocks when the markets crash and holding them until the markets recover. Secondly, with less risk and more potential return, you can also just invest in a small portfolio of companies which continue to strongly grow sales and earnings over the years. Then, if the company was correctly selected, you might never have to sell, while accruing a huge return on your initial investment. Further, Fisher explains how he selects a growth company. He lists fifteen points which a company must have to be considered a superior investment.
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