Attendees: Geoff Floyd, Dave Johnston, Robin Rynhart, Les Watson, Richard Albon, Andy Davies, Don Parker
Apologies: Andrew Watkins, Wez Davey, Alan Martin
Agenda
The minutes were reviewed and agreed to be a fair and accurate representation of the meeting.
The treasurer presented a copy of the accounts that are posted to the club web pages in Excel format. This was agreed by those members present to be an acceptable format for release. The value of the club units at the end of September are posted to be 98p.
Les gave a quick review of the state of our Chloride share purchase and circulated a copy of the chart since purchase which indicated a loss of 2.19% since purchase.
6.1 (LW) To add the normalised FTSE index to the chart.
Geoff opened with a discussion about the general state of the market as expressed in the journals that he had read including the Investors Chronicle. The generally held view of the financial press is that the market is due for an adjustment (some may call it a CRASH). Geoff has been investigating how we may make protected investments.
Les gave a review of the Motley Fool UK Investment Guide (well worth a read) which made a number of suggestions including getting into the likes of Unilever, Rentokil and other broadbased stocks. Les agreed to attempt to condense the "Fool" guide into a common review process that we could use to review any new prospective share purchase.
6.2(LW) To develop a share purchase process / checksheet for consistent analysis of prospective share purchases.
It was suggested that the group hold additional meetings and that we should aim for 1/2hr a week. Tuesday lunchtimes were suggested and that these meetings were expected to be working sessions which would not be minuted. The formal meetings would still continue on the second Tuesday of the month and would be minuted as usual.
6.3 (GF) Geoff agreed to review Traded Endowment policies.
5.1 (GF) To post the club financial information onto the web. DONE
5.2 (GF) To post the summary and share chart to the club web page. DONE
5.3 (GF) To action the purchase of £500 of shares in Chloride. DONE
5.4 (GF) To perform the transfer of £600 from the current account to the Stock Broker account. DONE
5.5 ("non-windows") To prepare recommendations for share purchase in a similar way to that prepared by the "Windows" team. CANCELLED (REPLACED BY REGULAR TUESDAY MEETINGS.)
3.1 (GF) To contact the tax office and take necessary steps to register the club.
3.4 (All) Email round useful web sites and information. CANCELLED – See new section to minutes.
The club agreed during Meeting #1 that the club officials who agreed to stand in a temporary capacity to see the club through its inception phase would be reviewed after six months. The three club officers will therefore stand down at the next meeting and may or may not put themselves for re-election.
Please consider yourself for a position as a club officer. Any nominations gratefully received.
Next Meeting : 9 November 1999