Q: ADP and PAYX seem to have quite similar businesses and I am having a hard time picking the long-term winner in their HR services market. It doesn't seem to make sense to own both. Which of the two would you prefer for a long term investment and why?

Q: I already own Honeywell and BAE Systems but want to increase and diversify my holdings in Industrials. I know you like ROP, but I am also looking at PAYX, MMM and EMR. I am tempted by MMM, because it is so beaten up and is quite different from my existing holdings, but I worry that it is beaten up for good reason. Could you rank these four industrials in terms of quality for a long term investment, taking into account their current valuations?

Q: I was thinking of selling my holdings in Paychex based on short term price target upside and purchasing CAE which seems to be selling at a discount with recent insider buying by Elise Eberwein one of their newly appointed directors. Your thoughts on this? And how much stake do you put into seasonal investing? What do you think of the people and website running equityclock?