Diversity Investment Group Minutes of the Meeting

In Attendance: Todd Fibus, David Brodeur, Holly Deveny,Vreni Ludin, Russ Douglas, Peter Carnell, Larry Corse, David Jones, Andy Bain, Steve Shockley, David Robinson

Absent: Brian Alexander, John Brock, Roger Drury, Ron Kozak, Marcia Ratka, Tom Saunders, Mike Wall.

Minutes were approved for last month.

$1,480 received for this evening. $1,890 in bank from last month.
Current unit value $20.50. Portfolio has been flat for the year.
Unit value up 62% from 2 years ago. Down 2.3% from 1 year ago.

Motion to spend $100 to upgrade accounting software was approved.

VP Corner: Holly
Next months' presentations: David Jones, Larry, David Brodeur (alternate).
Holly passed around the S & P's Top 5 Holdings (5 start stocks) - Good buys.

Andy: If you are scheduled to make a presentation and can't be present for the meeting, please give the alternate person enough notice so that they have time to prepare their presentation and can do a good job.

David B. discussed that we have 18 partners and that no one is an analyst for more than one company.
David reviewed the DIG Board and percent of our holdings in the Yahoo sectors:
-Diversified Manufacturing: 3%
-Technology: 26%
-Services: 23%
-Finance: 15%
-Health: 33%

David B. mentioned what he needed for the DIG Board from the analysts each month:
-Avg P/E
-Buy Price
-Projected Growth Rate

Holly initiated discussion on how to determine the average P/E (forward P/E). It is the projected P/E. David B. gets this number from the analyst reports. The P/E can be pulled off of Yahoo. The Avg P/E is the analysts' projection.

Holly presented Microsoft:
Historical Rev. Growth: 29.6%
Est. Future Rev. Growth: 20%
Hist. EPS: 29.1%
Est. Future EPS Growth: 12.6%
Current price of $65 is a HOLD (which was then revised with discussion).
BUY up to $58.

David B. continued reviewing the DIG Board.

We have $1,889 to spend for the evening.

Peter presented CDW Computer (CDWC).
Highlighted as a "Stock to Study" in BI. They provide a wide rage of micro-computer products via catalog and direct mailing. The package solutions for major companies, gov't offices, etc.
-Hist. Rev. Growth: 44.7%
-Est. Future Rev. Growth: 17%
-Hist EPS Growth: 38.5%
-Est. Future EPS Growth: 17%
-Current price of $45.68 is a BUY.
Buy up to $47.36

Russ presented Viacom (VIA)….a media conglomerate. Cable networks: MTV, Nickelodeon, ShowTime, etc.
-Hist. Rev. Growth: 32.5%
-Est. Future Rev Growth: 15%
-Hist. EPS Growth: 18%
-Est. Future EPS Growth: 15.6%
Current price is $45 is a BUY.
Buy up to $81.42
(Some historical data was missing.)

Motion to spend all of our $1,889 on Tyco was approved.

Checks were not received from the following members: John Brock, Brian Alexander.

Meeting adjourned.

Minutes submitted by David Robinson

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