Poetic Portfolios

Yesterday ADP announced earnings that were surprisingly good given the level of job losses over the past year. Over the past year, revenue grew by 1% to $8.9 billion for the year. Excluding one-time items, diluted earnings per share from continuing operations grew 10% to $2.39.

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A recent article at Automation.com notes that Oyo Geospace (NASD: OYOG) recently installed dcLINK for inventory management.

We’re able to keep everything real-time by using dcLINK, said Todd DeLoach, Warehouse Manager, OYO Geospace. Now we know immediately that needed items are available and that they have been committed to the work order or the sales order. That’s real-time for us, and it’s a great, great benefit.

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I first read The Warren Buffett Way at the heights of the dotcom boom. I remember applying the notion of intrinsic value to companies like Ariba and CMGI and getting values of less than one-tenth of their market capitalizations. I was certain I was doing something wrong.
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