Empowering Investors for over 20 years


Veritas is Canada's Leading
Independent Equity Research Firm

Our Mission is to Seek the Truth from the Facts


We Outperform

Our recommendations to Buy stocks have outperformed the S&P/TSX Composite by more than 300 basis points, while the Sells recommendations have underperformed by more than 400 basis points since March 1999.

Find out more about our Track Record.

We Are Independent 

We provide investment research you can trust. We do not have investment banking or trading revenue, or biases. That means we are only paid by the clients who read our research or receive our training. We call it the Veritas Way.

Find out more about our Investment Approach.

We Stand Up For Investors

We are the voice of investors and study accounting like no other. We have served on national and international accounting standards and regulatory advisory boards, taught at business schools and regularly are cited by major media outlets.

Find out more about Our Team.

  We have many subscription options.

   Contact our Sales Team to discuss your equity research needs.     Contact Sales


We have openings for two positions:

Communications Services
& Technology Associate

Coverage includes fast-paced market leaders, such as Shopify, high-quality compounders, like Constellation, and all the Canadian telcos.


Media Specialist

Publish newsletters, reports, and video content. Maintain website and assist with social media.


Come join the team!


Veritas is Canada’s first and only equity research firm to be certified as a CPA training organization by the Chartered Professional Accountants of Ontario. If you want equity research and capital markets experience while becoming a CPA, Veritas is the perfect fit.

V-List Model Portfolio

The Fundamentals Are The Proven Edge

We started the V-List in 2004 as a model portfolio of our TOP BUYs. It contains 12-25 larger-cap and liquid names and is equal-weighted and rebalanced at the end of every month.

It has outperformed the S&P/TSX CAGR by 352 basis points since inception. The V-List underperformed in 2020 during the pandemic when government stimuli and low interest rates drove excessive risk in the market.

But for the year to date to the end of October, the V-List is up 1.94% versus the S&P/TSX, which is down 6.19%.

See More About Our Track Record

Please contact sales to inquire about subscribing to the V-List or all of our research.

Please watch

"It's good to have these results today to verify that what we are doing is still going to work over the long term," - Darryl McCoubrey, Head of Research. 

Fact-Finder Video Conferences

The Puzzle of the Markets

We held a recent video conference for our clients that we thought others may also find insightful.

The video was from our Fact-Finding Video Conference Series and was with David LePoidevin, Senior Investment Advisor, and Senior Portfolio Manager, at Canaccord Genuity Wealth Management. He was ranked #1 in this year's Globe Advisor Canada's Top Wealth Advisors 2022.

He provided advice for young financial advisors just starting out, and discussed market cycles and opportunities in the markets now.

Discover More About Our Fact Finders

Please enjoy free access.

"I think we've had three fixed income opportunities in my career of thirty-five years, and I'd say, this is the fourth." - David LePoidevin


Veritas Foundation

Create Your Own Charitable Foundation and Establish Your Legacy

We have an affiliated organization called The Veritas Foundation. Through it, individuals, families, organizations and companies can set up their own Legacy of Giving in four simple steps. 

Others can all contribute to your account. Our Foundation invests the contributions and they grow tax-free. 

Giving Back

Veritas Staff
Fall Food Drive 

A most sincere thank you to all the donors and the volunteers who supported a record Fall 2022 Veritas Food Drive in benefit of the Weston Area Emergency Support food bank. 

Together, your generosity raised a record $3,560, which translates into thousands of meals for Weston residents.


22nd Anniversary

It is Veritas's 22nd anniversary and our President and CEO spent some time reflecting on the bedrock of our success. Here is what he wrote on LinkedIn:
"The other day one of our newer analysts barged into my office beaming. I put my call on hold. He could hardly contain his excitement - he had found a critical piece of information for his investment thesis. It was energizing!
Or in another case, I asked a team member how long they had spent on a complex project. Their response was, in a surprised tone, "I don't know?" That made total sense to me because when you love what you do, you don't keep track of the time or effort expended. It's the outcome that matters.
In both cases, I see a passion for the truth. That is Veritas. That is our passion. Twenty-two years ago, we set up to change Bay St. with independent research. Today we are empowering investors and users of financial statements with our research, our training, our conferences, our asset management, and our philanthropic endeavours.
Congratulations to the Veritas Team, and special thanks to our clients, our investors, our advisors, our suppliers, and especially our families and all those who believed in us. You fuel our passion!"

- Anthony Scilipoti


News and Insights

November 28, 2022
We believe there will be a deterioration in the macro outlook for the Big Six banks

Our Financial Services Analyst Nigel D'Souza was a guest on BNN Bloomberg, providing his outlook for the Canadian banks as they started reporting their Q4-F22 results this week. He expects the banks to start reporting higher provisions for credit losses on performing loans this quarter, as the macroeconomic outlook has deteriorated since the banks reported Q3 results. "When you look at the assumptions banks use to model credit losses, last quarter's assumptions are a bit optimistic relative to current consensus economic forecasts," he said, also explaining that the provisions taken won't be uniform across all the banks because some of them already have excess reserves.
"What is baked into consensus is an expectation for a mild recession in Canada with credit losses running at about the same level as pre-pandemic," he said. However, we have more household leverage today than in 2019 and the Bank of Canada policy rate is already at 3.75% versus a high of 1.75% in 2018.