Diversity Investment Group Minutes of the Meeting

In Attendance: Mike Wall, Gary Kaupman, Todd Fibus, John Brock, Holly
Deveny, Steve Shockley, Randy Wilbur, Russ Douglas, David Brodeur, Larry
Corse, David Robinson, David Jones, Tom Saunders, Andy Bain, Peter Carnell,
Roger Drury, Ron Kozak (100% attendance!).

Guests: Pam Roberts, Karen Sanderfur (second visit each).

Gary and Todd shared "Inspirational Moments."

The minutes were approved for last month.

David B. said he would post the Stock Summary (DIG Board) from the end of each meeting
and the Diversification Worksheet on the on the DIG website.

Tom pass out our Etrade Account Statements and the Valuation Statement.
Reviewed changes in holdings from last month.

Gary reviewed balance sheets, current ratios, etc. A current ratio is the
current assets divided by current liabilities. Should be greater than "1".

David B. asked for feedback for classes at his house for this month…nothing
specifically planned. David may contact others in the group to go over
SSG's.

Andy proposed having study groups to review various growth areas, cable and
telecom, drug companies, chip manufacturers, etc. Research 4 or 5 companies
within similar growth industries.
John advised that only insurance and financials were not currently
represented in our portfolio.
David B. stated a lot of this can be done via email.
Andy will pick an industry and look for volunteers to help do SSG's.

Gary suggested we may want to begin looking at banking stocks that may not
fit our rules now but might in the future.
John: …or look for blue chips that have fallen.
Todd: …or long term care.

David B. suggested pairing up more experienced folks to do an SSG with newer
members to help the new person learn. (Discussion).

VP Corner: Roger put together a spreadsheet on who has given
presentations and asked if the following members could work up a
presentation: John, Larry, Russ, Todd.
John will do Diebold in Nov. (An analyst report/industry comparison).
Holly and Randy will do a presentation next month together.
Russ and Roger will work on an SSG for next month too.
Todd volunteered for November.
Gary will try for Oct.

David B.: Analyst reports need to be done on-line now. We will have Q &
A in the meeting only.

Tonight's presentations: David J., Steve , Roger, David B.

Steve presented Ag Services…a diversified company (home
improvement/agricultural supplier/farm financial services/financial
planning). One-stop shopping for farmers.
Current price of $16.62 is a BUY. Buy up to $17.28.
(Discussion…need to look closely at them as a financial company too since
they are like a loan company.)

David J. presented Dell Computers. Number 1 direct computer distributor.
Although not a BUY, it would be a great company to keep our eyes on in
price/market should fall. Very strong balance sheet. Enough cash on hand
to pay off all current debt. Current price of $47.88 is a HOLD. Buy up to
$33.15.
No real strong competitor (Compaq). Discussion.

David B. presented Disney. Profit margins are falling. They are cutting
costs in all segments, selling off sports teams, etc. Stock price and
earnings have stalled.
Current price of $28.50 is a HOLD. Buy up to $27.43.

We have $1,257 to spend tonight.

BUYS tonight:
Andrew *
Autozone *
Clayton
Diebold
Robert Half
Watson *

*Under represented as a percentage of the portfolio.

Motion to spend $1,250 on Watson (WPI) was approved.

We will meet at Piccadilly again next month.

David B suggested buying/using transparencies instead of making multiple
paper copies, killing trees.

Meeting adjourned.

(Tom received checks from everyone.)

Minutes submitted by David Robinson.

The DIG Board

Suggestions or comments? Write DIGnet@mindspring.com.

Return to the Minutes Index

Return to home page of Diversity Investment Group