ASML Q4: Anticipating Strong Growth Despite China Normalization

Core Viewpoint - The investment strategy focuses on fundamental, bottom-up analysis with an emphasis on long-term quality growth, targeting companies in niche markets with strong growth potential and reasonable valuations [1]. Group 1: Investment Strategy - The company aims for a 15% annual return on its portfolio [1]. - The portfolio typically consists of 15-20 stocks, emphasizing diversification, risk management, and macro-driven sector weights [1]. - The investment approach does not prioritize short-term stock performance or quarterly results [1]. Group 2: Company Characteristics - Target companies should have a solid management team and sound capital allocation policies [1]. - The focus is on identifying companies with strong growth potential in niche markets [1].