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
Darryl McCoubrey, Vice President and Head of Research, Partner, and Dimitry Khmelnitsky, Vice President, Partner, Head of Accounting & Special Situations
We Outperform
Our recommendations to Buy stocks have outperformed the S&P/TSX Composite by more than 300 basis points, while the Sell 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're Hiring
Business Development Representative
In this role, you will be integral to the company's growth. Your focus will be on establishing new connections with family offices and institutional and retail clients in the hopes that they will become long-term research subscribers.
Visit our Careers page to find out more and apply.
Virtual Open House
For Curious Minds Only
We are hosting our second Veritas Virtual Open House on June 18 from 2 PM to 2:45 PM. You will meet our Co-founder and CEO, Anthony Scilipoti, and learn a little more about his vision for independent research and why it's so important to investors.
You'll also meet Darryl McCoubrey, our Head of Research, to learn a little more about the Veritas methodology behind our investment research and what goes into making our investment recommendations.
Finally, you'll meet two of our analysts who will give you an idea of their track record and some views on their sector.
Please contact sales if you'd like to join us.
Our Track Record
What is the V-List?
Veritas' track record is measured through our V-List, a model portfolio that has outperformed the S&P/TSX Composite Index by 321 basis points annually (as of March 31, 2024, from inception on October 31, 2004).
The V-List is a concentrated portfolio of 12 to 25 companies recommended by Veritas Investment Research as the best investment opportunities drawn from our firm’s research.
Stocks are selected based on their liquidity, lower volatility and potential for long-term capital appreciation, using bottom-up fundamental analysis and a strict review of accounting and disclosure practices to identify companies with defensible competitive advantages and the ability to generate meaningful cash flow.
V-List Model Portfolio vs S&P/TSX Index Since 2004 Inception
Returns greater than 1-year are presented as compound annual growth rates.
V-List Review
Darryl McCoubrey, Head of Research and member of our V-List Committee, discusses the V-List's performance so far in 2024 and its positioning moving forward.
He discusses performance, how we are managing risk and what kinds of companies we are favouring in this market environment.
January 31, 2024
The Untold Truth Behind Growth Stocks (Wealth Builder 5) - Anthony Scilipoti
Our President and CEO, Anthony Scilipoti, had the opportunity to talk about the world of investing on a podcast with Breakthrough Academy, a service that works with contractors to help them navigate the challenges of growing their businesses and personal wealth. He talked about the five main areas of fundamental research that we dig into at Veritas Investment Research, how accounting is more subjective than most people realize, the difference between investing and speculating and how to evaluate a financial advisor. In one segment, he talked about why it is important for investors to dig beyond the headlines and charts of the day, especially today, as the market is starting to look frothy.
May 9, 2024
Nutrien's quarterly results aligned with our positive expectations, but there's risks: analyst
Our Material Analyst, Martin Pradier, joined BNN Bloomberg to discuss Nutrien Ltd.'s (NYSE, TSX: NTR) Q1-F24 results. Fertilizer prices were low in the quarter (potash down 37% YoY, nitrogen down 35%), but Martin thinks prices are stabilizing as the company heads into its important Q2 season.
He said almost 50% of the earnings are in Q2 as farmers in North America plant their crops. "With stable prices, we'll see much stronger retail earnings than last year. We'll see more profit in nitrogen and phosphate and lower profit in potash because prices were much higher last year."
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Element Fleet Management - Industrials
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AtkinsRealis - Industrials
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Advance Auto Parts, Inc. - Consumer Discretionary
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Constellation Software Inc. - Information Technology
Our Affiliated Companies
The Veritas Group of Companies
Veritas Investment Research Corp., Veritas Asset Management Inc. and The Veritas Foundation
are owned by the Veritas Group of Companies, which is 100% employee-owned.
Veritas Asset Management Inc.
Veritas Asset Management was founded on the belief that superior research leads to better investment decisions. Our funds capitalize on the successful research of our affiliate Veritas Investment Research Corp.
Sam LaBell, Veritas Asset Management Advising Representative, Director
Our portfolios offer concentrated, high-conviction positions in companies identified through our research and due diligence work, applying a disciplined and systematic selection process.
Through our research, we identify opportunities to profit from mispriced securities, either by buying top-quality companies for long-term capital appreciation or through long-short hedging strategies. While our portfolios are primarily focused on Canadian equities, our portfolio managers also consider opportunities beyond Canada.
Veritas Foundation
The Veritas Foundation aims to be Canada's authoritative source for participating in the country's charitable sector and evaluating its effectiveness and impact. Our vision is to foster a thriving Canadian charitable sector.
Mark S. Bonham, Veritas Foundation Executive Director