Diversity Investment Group Minutes of the Meeting

June 5, 2002

In attendance: Andy Bain, Roger, Drury, David Robinson, Tom Saunders, Vreni Ludin, Holly Deveny, Mike Wall, Satish Shah, Todd Fibus, David Brodeur, Peter Carnell.

Absent: Ron Kozak (gave proxy to Mike Wall), Larry Corse (gave proxy to David Brodeur), David Jones (gave proxy to David Robinson), and Steve Shockley.

Visitor-Robert Maddox, 1^st meeting.

The minutes were approved from last month

Tom reviewed the Valuation Statement. The unit value of each unit as of May 31, 2002 was  $16.96, which is a 4.8% increase since last month. After payouts to resigning members during the month, there was $327 on hand.  Additionally $1400 was collected from members to be invested at tonight’s meeting.

Jennifer Mullins has attended three consecutive meetings; tonight she gave presentation on Investment  Philosophies. She was requesting consideration for membership. The members voted unanimously in favor of  admitting her into the investment group.

David B. Presented the DIG Board and Portfolio pie chart.

Presentations:

Holly Deveny presented Pfizer, a pharmaceutical company, which was in the buy zone.

Russ Douglas presented Esterline Technologies, a precision instrument manufacturer, which was not a buy.

Satish Shah presented Johnson-Controls, an automotive and building maintenance supply company. It was not in the buy zone.

Andy Bain presented information on Watson Pharm, Inc. a drug company, which the club currently holds and is also a buy.

Members discussed various drug companies including Watson, Pfizer, and Barr.

Members were canvassed for their interest in which stock to invest tonight’s funds.

A motion was made to sell the Watson holdings and buy Pfizer, to be invested in one pharmaceutical company, expecting better performance. This motion was seconded and passed by the other members. 

The meeting was adjourned.

Minutes  submitted by Russ Douglas.

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