Philip Fisher on growth stocks for the long-haul

The greatest investment reward comes to those who by good luck or good sense find the occasional company that over the years can grow in sales and profits far more than industry as a whole. It further shows that when we believe we have found such a company we had better stick with it for a long period of time.

The past gives us a further clue that this growth is often associated with knowing how to organize research in the various fields of the natural sciences so as to bring to market economically worthwhile and usually interrelated product lines.

~ Philip Fisher, "Clues from the Past", Common Stocks and Uncommon Profits, 1958