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Strategies & Market Trends : Value Investing

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To: Brendan W who wrote (16335)	2/3/2003 6:20:27 PM
From: Paul Senior	Read Replies (1) of 78507

Brendan Watt. Thanks for the update. I'll follow you into some of these stocks and for some of the same reasons: 1. I'll try to reduce my cost basis in TOY today by adding to my long-held and losing position. 2. I continue to build my position in CSG. I added a bit more today. 3. I have been considering ADP for several months. I finally decided I would step up with a small buy. According to S&P, ADP sales and earnings growth are slowing to the single digits. (S&P is negative on the stock given its premium price.) If growth is slowing, the stock may drop further. It's rare though that one gets to buy ADP cheaply. And it is still not cheap now. OTOH, given the company's strengths and past performance, I'll bet ADP could rally if the market sees better days. If this doesn't happen, maybe in 18-24 months the earnings and revenue gains will result in a higher price for ADP shares. Jmo, wrong though I might be. Paul Senior finance.yahoo.com

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