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

To: Paul Senior who wrote (16346)	3/13/2003 12:15:33 PM
From: Paul Senior	Respond to of 78507

OT: I'll take my losses and exit my small position in ADP. I bought believing company is a growth play selling at a relatively low price. Company has announced today that earnings this year will be below last year. While I understand that most businesses have ups and downs, and that payroll services might suffer with so many companies cutting jobs, I bought ADP as a growth business. And this year it will not be. Maybe next year growth will resume. (Maybe it won't.) For value plays, I'm more tolerant of holding through ups and downs. Holding a high p/e growth stock that isn't growing is too tough for me in this market. I'll take my lumps and move on.