MINUTES OF MEETINGS
Green Mountain Dreamers
February 1, 1999
OLD BUSINESS
The Green Mountain Dreamers met at Trinity College for its monthly meeting. Tom Maffitt called the meeting to order at 6:30.
Member's presents were Randy, Claude and Julie Bertin, Lou, Al, Chris and Tom.
Tom gave an overview of our tax obligations to the IRS based on our dividends received. For the most part most members tax responsibility is $4.61.
The intent of tonight's meeting was to review some our current holdings for possible sale or increase our percentage invested within our existing portfolio.
Randy spoke about the SSG training that he has been involved in. The response has been very positive with over 40 participants. Most of the paricipants were members of existing clubs but some of them were individuals looking to join a club. Whose knows maybe Randy can recruit some new members for our club.
Randy also spoke about the investors fair that is planned for the summer of 2000. Pfizer has committed to be one of the major anchors of the fair.
Claude spoke about Boston Scientific, the stock is down but its future is promising. However, MBNA and EMC are doing well and continue to grow.
NEW BUSINESS
This portion of the meeting was devoted to review our present holdings first and then to discuss any addition companies of interest.
These companies were presented to the club by the following people.
Chris said Wall St. was very positive about ADCT. It is still in the buy range and he recommended that we increase our investment in ADCT.
Tom redid Nike and Staples. Nike's future is still murky, its on an upswing now. Al recommended that if it fell to 43 we should sell it. Chris suggested maybe we could get a greater return investing in another company while we wait for Nike to recover. Because Nike represents such a small portion of our portfolio we decided to take no action until next month. We took no action on Staples.
Randy spoke at length about Whole Food, he still very enthusiastic about the company. After some reservations the club decided to take no action.
These are some of the new companies that were reviewed.
Randy did Gateway.
Al did Alpharma and the Limited.
Chris did Abbot and Johnson & Johnson. Both of these companies are nicely behaved but they don't appear to double within the next 5 years.
Tom did Pfizer. It is a good company but has a very high PE.
The Bertin presented Carlisle Co, Helen of Troy and BMC. All of these companies appeared to have lots of potential for future growth.
With $3,600 to invest, we made the following decisions.
The club decided to take no action on any pharmaceutical company.
We decided to purchase 30 additional shares of ADC at 40 1/8 to buy and we decided to purchase 50 shares of BMC at market.
Staples and Whole Food were placed on hold. Meanwhile Carlisle and Helen of Troy would be on watch. Nike will be watched for another month.
Our next meeting will be on March 1, 1999 at Trinity at 6:30 P.M.