This issue is terrible. Too many computers/peripherals companies. This is a razor-thin margin section of the technology industry and I won’t even look at them. I don’t pretend to understand technology, so it’s not worth analyzing. I only took a look at two industries because I won’t invest in property management companies either. The industries are office equipment/supplies and furniture/home furnishing. Furniture/home furnishing is historically very cyclical, but if you buy the right company, it all averages out fine. The office companies were all pretty bland. I found no interesting situations, nor did I find any great businesses to add to my list. The best business in this issue is Dorel Industries, which, strangely enough, is a pink slip. The market cap is about $1 B and is around fair value now, but possesses a couple brands you would recognize.
I’m not posting any new issues for a week or two because I am focusing on the industry downturn in for-profit colleges. I’m hoping to find a good company that will not be affected, but it’s too early to tell from how much I’ve read. Once I’m done, I’ll get back to my value line reading.