Philip Fisher's scuttlebutt method and Fifteen Points, explained

Warren Buffett famously described himself as '85% Graham and 15% Fisher.' That 15% — the focus on business quality rather than just cheapness — comes largely from Philip Fisher's 1958 classic.

Scuttlebutt

Fisher's most durable contribution is a research technique he called 'scuttlebutt': instead of relying on financial statements alone, talk to a company's customers, suppliers, competitors, and former employees. The mosaic they paint reveals the durable advantages — or hidden weaknesses — that numbers alone miss.

“The business 'grapevine' is a remarkable thing.”

The Fifteen Points

Fisher also offered fifteen questions to ask about any company — covering the runway for sales growth, the depth of management, R&D productivity, profit margins, and, crucially, the integrity of the people running it. The thread through all fifteen is durability: he wanted businesses that could compound for decades, not cheap stocks to flip.

• Great research is qualitative as well as quantitative — go talk to people.
• Look for durable competitive advantages and honest management.
• The best returns come from holding exceptional businesses for years.