Core Concepts: Computers and Office Supplies

This column was originally published on RealMoney on Feb. 2 at 11:05 a.m. EST. It's being republished as a bonus for TheStreet.com readers. For more information about subscribing to RealMoney, please click here.

If you're trying to improve your investing skill set, you might want to take a second look at some underloved sectors. They can teach you a lot about finding bargains in an always-changing market environment.

Over the next few months, I'll be integrating core investing concepts into a methodical review of stocks in every major market sector. Yesterday, I examined some chemical companies. In this column, I'll cover investing concepts and ideas culled from the computer and office supplies sectors.

As the computer industry matures, it becomes a more compelling sector for long-term investors. That's because excess capital no longer flows into it. Excess capital flows create excess capacity, which, in turn, begets lower profitability. ...