Philip Fisher · 1955 · Common Stocks and Uncommon Profits, ch. 3 (investing case)
The Motorola and Texas Instruments cases (documented recollections)
Fisher also made an early investment in Texas Instruments when it was still a young semiconductor company, having concluded through industry interviews that its technical talent gave it a long runway of growth. The position, held through enormous swings, illustrated his willingness to pay a seemingly high price for a business whose sales could compound for decades.
Philip Fisher · 1955 · Common Stocks and Uncommon Profits, ch. 3 (investing case)
The Motorola and Texas Instruments cases (documented recollections)
Fisher described what he looked for in the people running technical companies: executives who understood engineering well enough to choose the right projects, a research organization with genuine freedom to look years ahead, and a sales force able to explain complex products to customers. He judged that in technical businesses, the gap between the best-run and average firms compounds just as powerfully as the financial results.