MEMBERS PRESENT: Gay Chestnut, Ike Chestnut, Gretchen DuRant, Greg Joseph, Deborah Hauges, Elsie Jones, Lee Hollie, Renee Patterson, Nancy Pierre, Toni Pinckney, Sallie Williams and Preston Younger (100%!)
MEMBERS ON LEAVE: Zandra Coles & Tabatha Williams
MEETING COMMENCED: 3:50 p.m.
TOPICS DISCUSSED:
- INSPIRATIONAL MESSAGE: Read by Toni Pinckney from "Daily Motivator".
- MINUTES: Were read by Gretchen. Changes were made to minutes: 1.) New members were not unanimously voted in to join. 2.)Goals for each committee was due at April meeting, not Mission Statement as previously stated. The revised minutes were accepted as read.
- FINANACIAL STATEMENT: Distributed by Gretchen. Recent purchase of Lowe’s stock not listed, it will be on May’s report. Valuation statement had erroneous price for Pfizer listed as $90.37. Error noted and corrected.
- B.I UPDATE: Nancy briefly discussed article on Pfizer in May issue.
- STOCK UPDATES:
NOTE: Renee volunteered to watch Lowe’s
- WEBSITE UPDATE: Committee member names have been added to the website on the "Members Page." Also it was mentioned to have our birthday’s posted there also.
- PRESENTATIONS:
- Outstanding Presentations: Lee, Toni and Preston.
- Nancy presented on the following three companies: Bard, Adv Neuromod and Idexx Labs. Nancy to do another SSG for Adv. Neuromod.
- EDUCATION: Discussion on Part 3 of article on SSG in B.I. Conclusion: We want to purchase a stock when the P/E ratio is low so a profit can be made.
- HOMEWORK: Find a small to mid cap company that is worthy of the club to purchase, can be from any sector. Research should include: Quick Analysis, Stock Check List, SSG (Can use Motley Fool’s opinion for small caps). Industry commentaries ranking of sectors, etc. are on the Valueline website.
- COMMITTEE REPORTS: *(Chairperson of the committee)
*Note: Correction was made that goals only were due for this meeting.
- Portfolio: (Janice, Elsie, Deborah & Sallie) Goals, mission statement and stock–watch calendar were distributed to the members. Stated educational goal to teach individual members how to do PERT for their particular stock. Requested that members place SSG on a floppy disk when doing a presentation so information can be easily incorporated into portfolio.
- New Members: (Toni, Gretchen, Nancy & Preston) Goals of the committee were read to the club.
- Scholarship and Fund-Raising: (Ike, Greg, Zandra, Tabitha, Gay & Sallie) Goals and Mission statement read to the club. Proposed looking at average students who may need funding for school as possible candidates for scholarships. Need to establish what profit margin will be generated and where will the money go. Possible fund-raising ideas:
- Real-Estate: (Gretchen, Janice & Greg) Goals and mission statement discussed with group.
- By-Laws: (Renee, Greg, Gretchen and Lee) Identified goals: Complete By-Laws within 2 years. Proposed to meet at least four times yearly. Also, plan to complete partnership agreement.
- Education: (Renee & Greg) Goal is to make sure all members can prepare an SSG by the end of the year.
- Audit: (Lee) Goal is to have financial update at the end of the year. Also plan to recruit at least one additional member. Brief report of our first audit discussed by Lee, copies to be distributed next month.
Short and Long Term Goals handout prepared by Lee, was given to the group.
- NEW BUSINESS:
- 3rd Anniversary celebration discussed with group. Tentative plan is to meet on Friday May 23rd @ 7PM Cheesecake Factory at Palidades Center.
- Group voted to purchase 25 shares of FACTSET and 25 shares of NOKIA.
Meeting Adjourned @ 7:15 PM
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