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Posted to the Gilder forum - December 17, 2000

Fisher, meet Gilder

Philip A. Fisher, the author of "Common Stocks and Uncommon Profits" is a highly respected security analyst. In the second edition of his book, he has a chapter with the title to "How I Go about Finding a Growth Stock." After explaining how difficult and time consuming this is, specially for the individual investor with little money to invest, he reveals what would be his ideal method if it were practicable:

"There is another possible source of worthwhile original leads which others with better technical backgrounds or greater ability might be able to employ profitably, although I have not successfully done so. This source is the mayor consulting research laboratories such as Arthur D. Little, Stanford Research Institute, or Battelle. I have found that personnel of those organizations have great understanding of just the business and technical developments from which worthwhile original investment ideas should come. However, I have found the usefulness of this group largely blocked by their tendency (which is entirely praiseworthy) to be unwilling to discuss most of what they know because it might violate the confidence of the client companies for which they have worked. If someone smarter than I could find a way, without injury to these client companies, of unlocking the mine of investment information I suspect these organizations posses, he might well have found a means of importantly improving on my methods regarding this particular step in the quest for growth companies."

Fisher, meet Gilder!

This must be the ultimate compliment from a security analyst for George Gilder!

"Demand creates queues. Supply gets rid of them."
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