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

To: cfimx who wrote (450)	10/19/1998 1:53:00 PM
From: Axel Gunderson	Read Replies (2) \| Respond to of 4691

Twister: I've been in DNEX for years, have pointed it out a few months back both on this thread and on Graham and Doddsville thread. There is no question they are an excellent company. It seems like they do everything right. In addition to being an investor in DNEX, I am a user of their products and services (both excellent), in fact that was how I learned about them. I disagree with you about the size of their competitive advantage. They are dominant, but not years ahead. Where they really gain ground is in their ability to expand the number of uses of their technology and expand the technolgy itself. To those who feel that DNEX is somehow difficult to understand, get a hold of a paper copy of their last annual report. When I got it my thought was it was fluff, but on a second look, it does an excellent job of showing to the non-expert how their products are used. And that is the main thing you need to know. Forget trying to understand chromatography. You don't need to. You don't need to understand the technology that goes into automotive manufacture to feel that you understand an auto company, do you? Water purity, drug purity, food purity, etc are all going to become more important in the future, and this isn't an area where you should expect leapfrogging technology. DNEX is a company that buys shares heavier when it makes sense to do so, slower when it makes sense to do so, and as Twister so well summarized, knows how to turn a buck and invest it. Axel