Attendees: Alan Worroll, Andrew Watkins, Dave Johnston, Geoff Floyd, Andy Davies, Martin Collinge, Stephen Andrew, Wez Davey, Franz Fuchs, Cyril Bouhallier, Phil Ainsley
Apologies: Alan Martin, Les Watson, Kevin Forrest, Rick Haggitt, Allan Proudfoot
Absent: Chris Bailey, Richard Albon
Agenda
The previous minutes were accepted.
19.1 - Alan Martin to propose a purchase (of shares in an oil company). KILLED
20.1 - GF to sell our stake in Tepnel Life Systems: DONE
20.2 GF to purchase £1000 of Boots shares (Chris Bailey to be the share buddy): DONE
20.3 GF to purchase a further £1000 of Tesco shares (Alan Worroll to remain share buddy): DONE
20.4 ALL to investigate further IIG, RBOS, ICE, FER and RFD: ONGOING
Sold Tepnel - £650.87 realising a loss of £350.25
Purchase 170 Boots for £1015.74
Purchase 373 Tesco for £1016.64
Total Tesco holding now 594 shares.
Tesco: £3.27
Prudential: £4.35
Chloride: £5.03
|
Name of Company |
No shares |
Average price |
Total Cost |
Selling price |
Net selling value |
Profit or loss to date |
Change during month |
|
Barclays |
31 |
1676.13 |
519.60 |
2095.00 |
637.45 |
117.85 |
38.44 |
|
Boots |
170 |
160.85 |
1015.74 |
631.50 |
1061.55 |
45.81 |
45.81 |
|
DICOM |
237 |
429.17 |
1017.14 |
400.00 |
936.00 |
-81.14 |
118.50 |
|
Fleming Euro IT |
108 |
461.35 |
498.26 |
390.00 |
409.20 |
-89.06 |
4.32 |
|
ICI |
90 |
571.37 |
514.23 |
537.00 |
471.30 |
-42.93 |
54.90 |
|
Parthus |
370 |
2.76 |
1020.99 |
155.00 |
561.50 |
-459.49 |
-48.10 |
|
Prudential |
53 |
979.40 |
519.08 |
1071.00 |
555.63 |
36.55 |
-5.83 |
|
Tesco |
594 |
257.93 |
1532.13 |
274.00 |
1615.56 |
83.43 |
1.64 |
|
365 Corp |
242 |
212.99 |
515.44 |
28.00 |
55.76 |
-459.68 |
-38.72 |
|
Volex |
85 |
1795.11 |
1525.84 |
1925.00 |
1624.25 |
98.41 |
157.25 |
|
6547.06 |
8678.45 |
7928.20 |
-750.25 |
328.21 |
Investments gained £330 last month.
ICI gained £54
Parthus lost £48
DICOM gained £118
Volex gained £157
Unit price gained from 146 to 152.
Stop Loss
|
BARC |
BOOT |
DCM |
FEF |
ICI |
PRH |
PRU |
TSCO |
TSF |
VLX |
|
|
Max |
2200.00 |
639.50 |
495.00 |
466.50 |
562.00 |
297.00 |
1088.00 |
277.75 |
302.50 |
2125.00 |
|
Current |
2200.00 |
609.00 |
432.50 |
401.50 |
554.50 |
156.50 |
1080.00 |
261.00 |
31.00 |
1935.00 |
|
Change |
100% |
95% |
87% |
86% |
99% |
53% |
99% |
94% |
10% |
91% |
|
Original |
1639.00 |
587.50 |
422.00 |
441.50 |
555.25 |
270.00 |
952.00 |
219.00 |
207.00 |
1650.00 |
|
Change |
134% |
104% |
102% |
91% |
100% |
58% |
113% |
119% |
15% |
117% |
Parthus (PRH) is well below the 20% stop loss.
TSF fallen further to 10% (14% last month) - Perhaps it is time to sell before the sale costs exceed the value!!
Each "share buddy" at the meeting gave a brief update about his share.
|
Notes |
Buddy |
Share |
Recommendation |
|
BARC |
Richard Albon |
|
HOLD |
|
BOOT |
Chris Bailey |
No information |
HOLD |
|
DCM |
Geoff Floyd |
No information |
HOLD |
|
FEF |
Franz Fuchs |
Worryingly close to stop-loss value |
HOLD |
|
ICI |
Andrew Watkins |
|
HOLD |
|
PRH |
Phil Ainsley |
|
HOLD |
|
PRU |
Andy Davies |
No new information |
HOLD |
|
TSCO |
Alan Worroll |
|
BUY |
|
TSF |
Wez Davey |
Price so low it is hardly worth selling. There were 2million shares traded today and so somebody wants them. |
HOLD |
|
VLX |
Dave Johnson |
Geoff has sold his Volex shares on the belief that the company will suffer from the downturn in the comms sector, for which it supplies. |
HOLD |
No new proposals were investigated during the meeting due to lack of time & information
Les asked if anyone was prepared to take over as secretary. He believes that with his commitments over the next period, he will not be able to to the role of secretary. It is likely that he was stand down at the next AGM.
This was put to the meeting and no person volunteered to replace Les and so for the time being, we will carry on as normal.
Les proposed through Geoff and Andy, in his absence, to look at adopting a similar methodology of handling losses to that of a club that he had read about.
The scenario is as follows:
3 people monitor the stop-loss situation of the portfolio. If a share goes through a 10%, 15% or 20% point then they meet to discuss what to do, with the full backing of the rest of the club. If a share passes through the 20% mark, then it is automatically sold.
After discussion it was agreed by > 75% majority that the following would occur:
3 people (Andy Davies, Geoff Floyd and Andrew Watkins) have the authority to decide to hold or sell a share if that share passes through a stop-loss value. In the event of not all 3 people being available, 2 people out of the 3 can meet and vote/decide what to do.
Passing through 10% - stop-loss team negotiates the share
Passing through 15% - stop-loss team negotiates the share
Passing through 20% - Sell the share (unless the market has also sharply dropped stop-loss team to decide)
If a purchased share is considered volatile then its selling stop-loss can be set/reset at any time at meetings, primarily at buying.
When a share is purchased, the general stop-loss criteria is set.
On a share-value rise, the stop-loss is reset upwards
Monitor weekly or shorter. (Geoff has since set up a yahoo portfolio monitoring the stop-loss which will be updated on close of trade on Fridays.
As a result of the current stop-loss situation, PARTHUS has now got a selling point of 50% purchase price (135) if the share price moves lower than this, then it will be sold. If the share price moves higher, the stop-loss will be reset to being 20%. Franz has an action to find out information on Fleming which is the next closest to going through the stop-loss point.