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

To: cfimx who wrote (446)	10/18/1998 5:10:00 PM
From: James Clarke	Respond to of 4691

DNEX - I'll take a look. And you're absolutely right - with everybody and their dog thinking they're an expert on Buffett investing today, you're going to make the real money by finding, as you put it, Buffett businesses disguised as something else. Especially when that "something else" is something very unpopular at the moment. JJC

To: cfimx who wrote (446)	10/18/1998 5:48:00 PM
From: James Clarke	Read Replies (1) \| Respond to of 4691

re: DNEX - OK, I'll bite. Wow. the numbers look incredible. I'd like to see the stock down more, but great businesses tend to be more resilient than that. 20-30% on equity every year, no capital expenditure requirements, so they just buy back shares. They've taken their share count down by a third in the last 8 years or so. The business looks difficult to understand. Is there a "draw it with a crayon" explanation for why this is such a great business and why nobody can take it away from them? I just downloaded the 10-K. Are there any other good sources of info on this business?