Sunday, January 26, 2003

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MINUTES OF INVESTMENT CLUB MEETING

Sunday, January 26, 2003

MEMBERS PRESENT: Gretchen DuRant, Toni Pinckney, Greg Joseph, Nancy Pierre, Deborah Hauges, Gay Chestnut, Ike Chestnut, Renee Patterson , Preston Younger & Elsie Jones

MEMBERS ABSENT: Zandra Coles, Janice Hackney, Lee Hollie, Tabatha Williams & Sallie Williams

MEETING COMMENCED: 3:50 p.m.

  1. Minutes of December meeting were unavailable.

  2. Guest Speaker Vincent DiMella, Sr. Loan Consultant from Country Wide Home Loans spoke to the group about assistance with obtaining residential loans. WIG raised questions about how to purchase real estate as a group entity as opposed to using individuals. Mr. DiMella was not sure of the answer and was going to check into Corp. purchasing and will get back to Gretchen.

  3. Presentation by Ike on Walgreens

  4. Rule of Thumb for Quick Stock Analysis = If first 4 questions are a “NO” – do not complete OR if the “NO’s” total 5 or more, do not complete.

  5. Financials were reviewed.

  6. STOCK UPDATES
    STOCK NAME
    STOCK
    SYMBOL
    ADJUSTED STOCK
    PURCHASE PRICE*
    STOCK CURRENT
    PRICE

    PERFORMANCE
    ADC Telecommunications ADCT $10.22 $2.60 Down
    Apollo Group, Inc. APOL $39.13 $41.25 Up
    Bed Bath & Beyond BBBY $27.22 $33.92 Up
    Cheesecake Factory CAKE $32.17 $30.90 Up
    FactSet Research FDS $32.09 $26.85 Down
    General Electric GE $29.88 $23.06 Down
    Johnson & Johnson JNJ $52.33 $53.61 Up
    Nokia NOK $21.77 $14.49 Down
    Pfizer PFE $39.29 $30.25 Down
    * Adjusted price refers to actual cost (reflects dollar cost averaging - price, administrative costs, splits, etc.)

  7. Education - Lowe’s vs. Home Depot (Started working on SSG)

  8. Homework – No Homework Penalty became effective January, 2003. The following members were fined $35.00 for not having homework assignment present: Gretchen, Toni, Janice, Preston, Nancy, Lee, Zandra, Elsie, Sallie.

  9. Tabatha Williams requested to take a 6 month Leave of Absence. The group unanimously granted the Leave.

    10. Meeting Adjourned @ 7:00 p.m.

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