How to Identify Companies That Can Achieve Growth

We take a three to five-year view. And our view is that we should be able to compound at a reasonable rate of return, if not better than the index. However, if you focus too much on valuation, that's a problem too. It is not always equally important. Sometimes growth is all that matters and sometimes valuations is all that matter. So we need to dial up and dial down based on a bunch of different factors. We try to quantify a lot of different things.