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Hi Andy,

How would you compare all the three?

I have positions in APEI and APOL. HG made a good investing case for APEI but I think they chickened out and did not make it a portfolio investment. I chose APOL on my own as it has a great P/FCF (as per Yahoo finance) and largest cap among such businesses while still staying a small cap. I have this feeling that being large is an asset for APOL as it gives it greater chance of withstanding adverse regulations.

I would appreciate your comments.


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