8.7%; 2001; $35. money management business is the best. good mgmt. they are a play on global equity which should outperform the US. they are up to 37% of assets from non US clients. revenues come from assets under management; market appreciation grows assets while new client cash flows provides growth above the market.

4.7%; 2004; $26.4. very profitable, high barriers to entry play on growth in semis.

Business development company -- middle market finance with strong value/risk/reward disciplined focus. they have capital in an environment where customers need it and not many others have it to give. consolidation with ALD scares me because of the known fraud at ALD but they have done a lot of due diligence -- treated it like any other investment. paying 1/2 BV plus funding costs are much lower for ARCC and ALD had asset allocation mix towards equity so as ARCC shifts to debt better risk reward and higher dividend potential. think this could be high teens with $2 dividend in a couple of years.

4.4%; 2006; $24.2. proprietary payment system for africa's poor -- huge profitability with huge market

3%; 2002; $28. consistent grower, consolidated industry, benefiting from providing high value add (information) at minor cost (4% of health care costs), also key is growth of genomics and ability to introduce new tests at higher prices. link with managed care is about service levels and information links not as much about pricing as many think. great cash flow/returns

PSoC -- programmable system on a chip -- taking over microcontroller market due to greater flexibility, time to market etc. using it for touchscreens too - not in iPhone but in lots of other smartphones. working on other devices too -- GPS, laptops etc. they have lots of cash on books and no debt. concerns about double ordering are ridiculous -- lead times have not changed so no need to double order. think 2010 EPS could be closer to 60 cents then 40 cents. have secular growth vs. most semi's just cyclical.

2.6%; 1994. cost basis is only $2.70 so its a big tax bill any time I sell -- should be consistent grower with huge cash flows but not looking for a lot here. Internet and open source steadily chipping away at potential.

2.7%; 2007; $32. has great technology for the 3 areas of genomic analysis -- gene expression, gene sequencing and genotyping. cost of analysis plummeting faster than Moore's Law could ever dream of -- 30 fold decline in 7 years. should drive huge volumes and huge growth. mostly a consummable business so margins are great. cash flow is good too -- not like a semi business that soaks up all the cash. this is a new position -- went up too fast before I could get a decent size position. cost = $32.