July 2006

Snap-On - Is the Value Cavalry Coming?

Returns Accrue When Accruals Don't

Waters Corporation (WAT)

The more you pay, the less you get

SEC Webcast of Press Conference at 5:00 pm Today-Brocade and Backdating

Merck and Vioxx- Is the Street Pricing the Liability Correctly?

The Horizon is Bright at Bright Horizons

Gimme Shelter But Not from Inflation

WD-40 and the Slippery Slope of Advertising and Sales Promotion

Alcoa Kicks off the Q2 Earnings Season ...Hardly World Cup, But Not Bad

Turnarounds and Value Investing