Diversity Investment Group Minutes of the Meeting

Guests: Steve Phillips, Barbara Williams, John Hill and Bob Kalaf..

David Brodeur received proxies from John Brock and Larry Corse.

David B. discussed creating new and existing positions to help complete
needed work for the club:
-Treasurer/Asst. Treasurer
-Secretary/Asst. Secretary
-Vice Pres & Education Director.
-President
-Portfolio Director
-Membership Director
-Webmaster
-Teachers- classes on SSG, software, etc.
-Hosts- for social functions/cocktails.

David B. discussed possible interest in an education meeting this month.
None requested/suggested.
-Reviewed investors college classes. Check the BetterInvesting website for details.

Roger/VP Corner:
-This evenings presentations: David J: Caterpillar, David B: Carnival,
Roger: AT&T.
-Next month (April): David R., Andy
-May: Steve, Randy

Steve suggested a financial education meeting.

Andy requested exact numbers with analyst reports.

David B. reviewed Fannie Mae---price has dropped.

We have $1,400 in cash for purchase(s) this evening.

Each member offered their preferences for stock purchases for this evening.

Motion to spend all $1,400 on Fannie Mae was seconded.
Randy offered to be the analyst for Fannie Mae (if purchased.)
Motion carried.
David B. will talk to Tom to make the purchase.

David J. presented Caterpillar. In the buy if assuming a growth rate of
10%. Assuming --10% growth in earnings for the next five years.
-Current price of $34.88 is in the BUY.
-Buy up to $35.90.
-Large company…20 billion in revenue per year.
-Faired much better in industry than Deere.

David B presented Carnival Corp (CCL).
-Cruise line…Worlds largest cruise fleet…including rail cars, motor coaches.
-Issues that came up regarding CCL: mechanical/PR issues, low tax status at
risk, family ownership.
-David B. to research these issues and report back.
-They are trying to buy Royal Carribean.
-Historic Rev. growth: 14%.
-Current price of $28.81 is in the BUY zone. Buy up to $36.43.

Roger presented AT&T.
-Has been broken up…only about 23% of what they used to be.
-Moving into cable and wireless.
-Attractive, but not on BetterInvesting principles.
-Wireless..AT&T already #1.
-Expecting growth rate of 30% to 80% of growth in personal wireless phone
ownership.
-Not currently a BUY.

Analyst Reports….next up is Adobe.

All contributions were received.

Next meeting: April 5th.

Meeting adjourned.

Minutes respectfully submitted by David Robinson.

Suggestions or comments? Write DIGnet@mindspring.com.

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