Veeva Systems: Solid Q4 With Margin Expansion

Core Insights - The investment strategy focuses on fundamental, bottom-up analysis with an emphasis on long-term quality growth [1] - The target annual return for the portfolio is set at 15% [1] - The portfolio typically consists of 15-20 stocks, emphasizing diversification, risk management, and disciplined trading [1] Investment Criteria - Companies targeted are those specializing in niche markets with strong growth potential [1] - A solid management team and sound capital allocation policy are essential for investment consideration [1] - Reasonable valuation is a critical factor in selecting investments [1] Portfolio Management - The approach does not prioritize quarterly results or follow herd mentality [1] - Macro-driven sector weights are considered in portfolio construction [1] - Risk management is highlighted as a key factor in the investment strategy [1]