My 12 favourite quotes from Phil Fisher, from his wonderful book 'Common Stocks and Uncommon Profits'

Aside from Buffett/Munger, Fisher is the investor that has had the most influence on me and I would recommend his book to anyone:

"More money has probably been lost...

...by investors holding a stock they really did not want until they could 'at least come out even' than from any other single reason... Especially so when you consider foregone reinvestment gains."

"If the growth rate is so good that in another 10 years the company might well have quadrupled, is it really of such great concern whether the stock might or might not be 35% overpriced? Maintain the position and don't worry about losing a small part of the gain."

"If a company has changed for good it deserves to trade at a P/E premium to its history and will probably continue to do so. For young companies in particular many investors will mistakenly view them as overvalued...

…Stocks that at first glance appear to the highest priced may, upon analysis, be the biggest bargains."