Diversity Investment Group Minutes of the Meeting August 4, 1999. Guests: Karen Sandifer, Melanie Mathis, Mark Loden, Pam Roberts In Attendance: David Brodeur, Ron Kozak, Holly Deveny, Tom Saunders, Russ Douglas, Todd Fibus, Andy Bain, David Jones, Roger Drury, David Robinson, Steve Shockley. Absent: Mike Wall, Peter Carnell, John Brock, Larry Corse, Gary Kaupman, Randy Wilbur. The minutes were approved for July's meeting. Tom reviewed our evaluation statement. We have $1,961 to invest this evening. David B. asked for suggestions for classes at his house. Discussion of alternate location: Piccadilly on N. Druid Hills off I-85. Everyone seemed to like the idea. David B. suggested everyone check it out. We might want to meet there instead in the future. Discussion of sending analysts reports over email: saves meeting time, everyone needs to review ahead of time, makes meetings more interesting/valuable. VP Corner: Roger reviewed presentations scheduled for this evening: Gary, Andy, David R.(did not have), David B., Roger. Roger suggested that he might want to send our portfolio to Better Investing. Scheduled for presentations next month: David J., David R. ( the "stock to study" from B.I.), Andy, Steve (Undervalued stock). Analysts Reports: David B: Health Management. Price even better this month. Roger: Some comments from HMA's CEO create concern…sounding risky. Consensus was to wait to see how far price might fall and wait for some stability before trying to "catch a falling knife." David B. gave overview of online resources he added to the DIG website…NAIC shared data file library, Glossary of Terms, various resources, etc. David B. gave overview of how to find a stock to study in the Value Line. (One page quick analysis of a stock from the Value Line page.) Roger gave presentation on Disney: Creative content sales are down (merchandise). Current price of $26.38 is in the BUY zone. Buy up to $27.66. Comments on Disney as an individual (non DIG) investment: Less return but also less risk. Roger and David B. to both present separate SSG's on Disney next month for comparison. Andy gave a presentation on Watson and Jones Pharma, Inc. Both are generic pharmaceuticals. Watson manufactures drugs, Jones buys and sells drugs. Jones current price of $44.31 is a HOLD. Buy up to $35.58. Watson's current price of $34.00 is a BUY. Buy up to $37.17. Watson looks better on the SCG. Andy gave a presentation on Wolverine: 10% growth expected per Better Investing. Current price of $12.00 is very close to the BUY zone. Buy up to $12.24. We need a new SSG for Autozone next month (Gary). BUY's this month: Diebold, Watson, Robert Half, Disney, Andrew. We have approximately $1,900 to spend this evening. Motion to buy $1,200 for Watson and $600 for Diebold. Motion approved. Next meeting is scheduled for September 1st. Checks from everyone with the exception of Mike Wall. Minutes respectfully submitted by David Robinson T h e 'DIG' B o a r d, by Andy Bain DATE August 4, 1999 Stock % Port Avg. CostCurr. Price Current PE5-yr Avg PE Rel. Value Buyprice Recom. ADBE 8.6 41.9 83 3/8 42.0 22.2 42.0H ANDW 7.2 23.9 19 3/4 39.0 23.5 19.4H ADP 12.1 23.7 39 1/4 37.0 29.6 33.5H AZO 5.7 29.7 23 9/16 15.6 23.5 35.0 CMH 11.4 12.8 10 1/16 10.3 16.1 14.6 DBD 8.1 38.3 28 9/16 16.1 22.0 36.4 G 6.6 40.5 44 50.3 30.0 40.8H MAR 11.4 27.3 35 3/8 22.7 19.5 34.7H RHI 9.8 28.0 26 1/8 17.5 22.0 38.0 TECH 12.6 16.4 27 35.8 23.3 21.4H WWW - 15.0 12.0 WPI - 34 23.2 36.0B JMED - 28.5 37.0 HMA 21.0 13.9 RPM 19.0 16.0 WALT 26.38 35.2 27.8 1.26 27.7B