Apollo Group Inc. (APOL)

Asset managers tend to involve alternative assets, mostly private equity, and it's all debt-related. They have huge amounts of money to spend. When it's really great for them is a situation like March 2020. PEs are substantially higher today. Good to own at the right time, which is not now. Wait until the interest cycle changes.

“For-profit” adult education. Can include night school and online courses. Their most well known brand is University of Phoenix. Unemployment in the US will probably be an average of between 6% and 7.5% and many of those will go back to school. Have just rolled out a major initiative for a 2-year degree rather than 4-years.

Largest provider of post-secondary education, at least as a public company. In extremely good growth right now. Over 30% earnings growth and 20% revenue growth in the latest quarter. Great balance sheet. $800 million in cash and no debt.