Diversity Investment Group Minutes of the Meeting

September 03, 2003

In attendance: Andy Bain Tom Saunders, Holly Deveny, Roger Drury, David Robinson, Russ Douglas, David Brodeur, Todd Fibus, Satish Shah, Vreni Ludin, Ron Kozak, Jennifer Mullins and Larry Corse

Absent: Peter Carnell, and David Jones

Members approved the minutes form the August 6, 2003 meeting submitted by Russ D.

Holly D. reviewed the upcoming presentations and reports.

Tom S. reviewed the treasure’s report. The unit valuation of the portfolio as of 08/31/03 was $19.56, which was up 2.9% from the previous month. The funds collected tonight were $2535.

The issue of club member leaving, Steve Shockley, was discussed. His share of the portfolio was valued at $2170 as of August 2003. It was decided to pay him his share with funds collected from members and funds already in the club’s account, which will be paid out this month.

David Brodeur presented the DIG Board for club member to consider which stocks they may want to invent in tonight.

Presentations:

Larry C. presented Marriott International, a company, which the club currently holds. MAR operates or franchises hotels and resorts. His SSG found the company to be in the hold zone.

Todd F. reviewed Home Depot, a company that the club also holds. He had sent out analyst report for members to review. HD was in the buy zone. 

And B. presented Intermagnetics, which is a company that makes and develops superconducting materials, electromagnetic components and cryogenic refrigeration systems for magnetic resonance imaging. The company was in the hold zone.

Members were canvassed about their interest for investing funds tonight. Discussion about MAR was strong about selling the club’s holding since the analyst’s report tonight revealed low historic and future grow performance.

A motion was made to sell the club’s holdings in MAR and split the proceeds between companies the club holds with better grow performance, 2/3 of the funds will toward AFL and 1/3 will go toward FNM. Other club members passed this motion.

The meeting was adjourned. Next month’s meeting will be Oct. 1, 2003.

Minutes submitted by Russ Douglas.

Suggestions or comments? Write DIGnet@mindspring.com.

Return to the Minutes Index

Return to home page of Diversity Investment Group