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First, I finally ordered THE book and can't wait to have it in my li'l hands.

In the meantime, I received a newsletter/teaser-to-buy-more from Michael Murphy (5 High-Tech Stocks Every Investor Must Own) that I got from a mail-out in Kiplinger's.

Anyways, Mr. Murphy had an interesting idea that I wanted to bounce off the experts in here:

His "Growth Flow" strategy looks at tech companies and equals earnings per share plus R&D per share. Specifically, he wants to "own companies that are reinvesting a good chunk of their profits in Research & Development for the future... As a rule of thumb, look for R&D spending equivalent to at least 7% of sales."

Any thoughts on this? It sounds like a good thing to look at. But, where do you find a companies R&D figures? Is that in the Balance Sheet or where?

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