Do not take yearly results too seriously. Instead, focus on four or five-year averages. - Warren Buffett
A notable investment theme is that a company rarely stays stagnant while growth tends to occur in spurts. This phenomenon is best illustrated in a young growth story like Spectrum Pharmaceuticals (SPPI). After years under the leadership of Dr. Rajesh Shrotriya, Spectrum shifted gears to be highly focused on advancing its late-stage medicines. At the same time, the company planted the seeds for future growth ahead. Accordingly, the lagging product portfolio was sold for a significant