Attendees: Dave Johnston, Robin Rynhart, Don Parker, Andrew Watkins, Alan Martin, Les Watson, Wez Davey, Geoff Floyd, Andy Davies, Richard Albon, Stephen Andrew
Apologies:
Agenda
The minutes were reviewed and agreed to be a fair and accurate representation of the meeting.
The treasurer reported that the finance reports had been updated and were available on the web for all to read, this of course was a cunning rouse to attempt to distract us from the fact that he had forgotten to bring them along to the meeting J . Geoff also indicated that the unit price had fallen over that of the previous month due to some profit taking towards the end of the month but was still holding up at 132p and was expected to grow this month due to some recovery in the market in the first two weeks of trading of the new year.
European Telecom and Chloride had both posted us a dividend which was posted to the Schwab account and is available for re-investment.
We had agreed at our impromptu meetings on Tuesday Lunchtimes to sell half of our holdings in European Telecom and also in Pace.
9.1 (GF) To confirm actual sale prices via e-mail - COMPLETE (details below)
This was been completed as follows :-
Proposals were made by a number of members …
Geoff likes the look of Volex, they make cables, principally data and mains cables for computer and datacomms equipment. They have been growing for a number of years and have a P/E > 13.
Geoff also suggest that we look at Somerfield which has moved both up and down by around 10%. Is a bit of a sick puppy with a P/E os around 3 while the rest of the sector is averaging 27. They bought QuikSave recently and converted some of this chain to Somerfield stores but the strategy doesn’t appear to be working.
Tesco was mentioned, Robin suggested Unilever, and Don brought up BskyB where rumours exist of further mergers of media companies.
9.2 (LW) Perform a GC analysis on Culver.
Robin indicated that Racal and European Telemetrics were looking for a joint venture although Racal shares had dropped by 28% yesterday.
Richard was keen on shares in the banking sector although Lloyds had been moving sideways recently and the Halifax continue to drop.
Andrew pointed out that British Airways had seen some recovery since their recent slump.
Andy indicated that he had read in one of the investment magazines circulated by the secretary that Smith Klein Becheem had been suggested as one to watch.
The group agreed that the time had come again to go back to basic research on the sectors so we agreed to split up the areas of investigation as follows.
9.3 (ALL)
Banking – Richard and Andy
Retail – Geoff, Les and Alan
Pharmaceuticals – Andrew and Wez
Dave was going to check out the recommendations of the Telegraph
Robin and Steve are going to check out the Penny Shares.
We would discuss what was found at the Tuesday lunchtime get togethers.
Geoff had brought along some literature from Proshare who were inviting us to join one of their annual competitions. The group decided not to take this any further.
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Wez |
Boots |
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Andrew |
SCI Entertainment |
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Alan |
Vodaphone |
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Steve |
Tricorder Technology |
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Geoff |
Cable & Wireless |
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Andy |
Marks & Spencer |
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Dave |
Ward Holdings |
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Richard |
BskyB |
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Don |
Finsbury Technology |
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Robin |
Unilever |
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Les |
ARM |
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The group decided that it was time for a change in the rules for the competition. It was agreed that the result would continue to be awarded on the largest percentage change however individuals could elect to let there shares roll over to subsequent competitions thereby rolling up any gain. As and when a new share was suggested then gain would be calculated from that point.
7.1 (GF) To check the ProShare manual again to see if there is more information on the selling discount.
8.1 (LW) Undertake Golden Cross analysis for a few Brewery stocks e.g. Bass, S & N, Whitbread. - COMPLETED
8.2 (LW) Undertake Golden Cross analysis for a few members of the retail market e.g. M & S, Boots etc. - COMPLETED
8.3 (GF) To purchase £500 of 365 Corporation. - COMPLETED
8.4 (DP) To circulate the competition selections via e-mail. - COMPLETED