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Strategies & Market Trends : Buffettology -- Ignore unavailable to you. Want to Upgrade?

To: Shane M who wrote (3061)	9/9/2002 4:38:45 AM
From: Paul Senior	Read Replies (1) \| Respond to of 4691

I've passed on BBY at lower prices. I'll look again though now that you've mentioned it. I've passed on APOL several times. A very good business selling at a too high price (imo). Reminds me of Krispy Kreme. Selling now at 40x Aug '03 earnings, over 11x book, and 7x sales, in my opinion there has got to be something else in this beat up market that's more attractive than APOL. Or if not, then buying nothing is better than buying such an expensive gem. Just my opinion, and I assume all the APOL stockholders who've bought this year and this week would say I'm wrong. Which I might be (again). I've got a cousin who has been planning on attending DeVry. So I have looked at the stock, and I find it more attractive than APOL. Perhaps the business franchise is not so strong as APOL's; sales and earnings continue to rise though: quicken.com DV also has good ROE, and also sells at a high (imo) price to its book value - but not so high as APOL. I have started an exploratory position. I don't know why DV is trading near its lows for the year. If it drops further though on no announcement of bad news, I'll likely build up the position. Good luck to you on whatever you decide. Paul Senior