Our Philosophy

In Depth Analysis  

Our background is in forensic accounting and we leave no stone unturned when we research a company.  We ask the tough questions that others can’t or won’t. We don’t use simple point estimates or rely on management’s “pro-forma” presentations. We know that accounting is not standardized and easily manipulated, and we do not hesitate to point out when a company is managing earnings or trying to hide something.

Objective & Independent  

We aim to level the playing field between investors and public companies. Our research is completely objective and Veritas is not affiliated with any long or short funds, nor do we accept research fees from the companies that we cover. With no in-house trading department, sales quotas to meet, or underwriting operations, our analysts provide completely independent research. The success of our company is a function of the investment returns earned by our clients.    

Credo  

A company should be valued on the basis of its discounted cash flows. Point estimates taken using earnings (or variations of earnings) can be easily manipulated and must be carefully scrutinized. When a company resorts to income management techniques, it is usually because the underlying business is not sustainable.