We do proprietary, in-depth research of companies we consider investing in, giving us insights that glancing through a publicly-available P&L sheet won’t. We engage with not just senior management, but employees, retail outlets, consultants, industry experts and end users. This gives us an excellent sense of a company’s fundamentals, outlook, operations and practices. We do this by having a larger team of analysts, who look at 15-20 stocks each, while the industry norm is over 50. Good research can’t be rushed.