Diversity Investment Group Minutes of the Meeting

In Attendance: Todd Fibus, David Jones, Larry Corse, Andy Bain, David
Brodeur, Peter Carnel, Roger Drury, Mike Wall, Tom Saunders, Randy Wilbur,
John Brock, Holly Deveny, Russ Douglas and David Robinson.

Minutes were approved for last month.

David B. shared 15 points in choosing a company to invest in.

Tom shared the current valuation statement and E-Trade Balance Statement.
We have $1,210.78 to spend this evening.

David B. advised that Gary's job is available for the diversification
analysis. David J. volunteered to do this job.

David B. advised everyone to mail your check to Tom if you know you are not
going to be here for a meeting.

David B. and David J. studied financial stocks last month.

There will be no classes at David B.'s house during December.

Roger/V.P. Corner: Presentations for this evening: Todd, Tom, David B.
For January: Peter, John, Andy

Tom presented Avery Dennison:
-Manufacture labels for food, wine bottles, bar code tags.specialty pressure
sensitive labels.
-Current price of %56.63 is in the BUY zone.
-Buy up to $58.71.
-David B. suggested moving the hi P/E down
to get a more conservative BUY zone.

Todd presented United Health Group.
-They are a health care provider.
-They are plan administrators and coordinate self-insurance. An AARP
provider.
-Their mgt. seems really good compared to other health care companies.
(Cigna's performance was very erratic. Aetna did not look as strong as
United either.)
-United had the lowest debt.
-Current price of $51.94 is in the BUY.
-Buy up to $62.20.
-With the SCG, United was stronger in growth and had the lowest debt to
equity.
-A large cap health company.
-Questions to address: How are they going to grow their business? How will
they be affected by demographics?

David B. presented Diebold.
-Wants us to sell Diebold.
-Doesn't expect them to have more than modest earnings.
-Not the kind of P/E expansion we need.
-Reviewed the DIG board.
-David B. made a motion to sell our shares of Diebold.
-Motion seconded.
-6 votes to sell.Andy had Gary's proxy.
-Units were counted and 43% voted to sell..motion failed.

Motion to reimburse Andy for $20.00 for overhead projector bulb. Motion
approved.

Motion to buy Tyco. Seconded.
44% of units voted to sell..motion failed.

David J. made a motion to put our money into Clayton. Motion seconded.
Motion debated. Could be 2-3 years before they show a turn-around.
Current price is $10.43. Buy up to $13.75.
Motion carried to buy Clayton.

Andy has been covering Adobe and Watson. David J. offered to take Adobe.

Discussed getting an Autozone analyst beside Gary. Need to compare it to
competitors.
Will leave with Gary for now.

David B. stressed the importance to sending out analyst reports right after
earnings reports come out.
Need to do these a week or two before the monthly meeting to give everyone
an opportunity to read.
Don't wait to the last minute..these are very important.
Andy needs to have these numbers early, too, to prepare the "DIG board".

David Jones is having a Christmas party Dec 10..email forthcoming to invite
everyone.

NEXT MONTH'S MEETING WILL START AT 7:15 PM!! We are going to try to meet
earlier to see how it works out.

Tom received checks for this month from everyone but Steve Shockley and Ron
Kozak.

Meeting adjourned.

Minutes respectfully submitted by David Robinson.

Suggestions or comments? Write DIGnet@mindspring.com.

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