Bay Area Bulls
Investment Club

Minutes for August 17, 2000

Attendees:

Jeanne Cherbeneau, John Florence, Earl Cory, Sandra Dellafiora,
David Nakamura, Ruby Taylor

Absent: Jim Hickey, Robert Weeks, Dick O’Brien

Guest:  Rosemary Green

Location/Time: 

7165 Cutting Blvd., El Cerrito CA 7:09 PM.

Minutes Corrections:

Minutes for July were reviewed and excepted as written.

Treasurer's Report: 

Pipi has turned in her resignation.  Robert has verbally stated that he would like to buy some of her shares.

We voted to except Pipi’s resignation.  A long discussion on how and when to base her evaluation followed this.  It was decided to base the value of her shares on the financial report at the end of the month that the resignation is accepted. 

John said that he would find out if she has a broker so that we can transfer stock to her account.  We will then transfer shares and dollars to a suspense account.

John presented a by-law change to better clarify the process.

Contact information

Dick has moved to John’s old house, his new address is 139 La Perdiz Court.
Ruby has bought a new house and will be moving soon

Member News

Jeanne went on an “unplanned” trip to Scandinavia and had a very good time.  She said that the 4^th of July is a very good day to travel.

Old Business

Bylaws:  John presented corrections to better clarify the process of distribution of funds when a member leaves.  Earl will put the changes on the web site for all to see.

Watch List: There is an article in Better Investing, page 63, about setting up and using watch lists.  John is continuing to work on an index to provide a method to alert us.  This involves a trend report and uses a portfolio evaluation algorithm.  He will continue working on it and let us know how it is going.

New Business

Sandra will take HP. Jeanne will take Lucent.
Sandra will redo assignments to redistribute the work-load.
Ruby is returning to Africa in October, Jeanne will present the October report.
John and Ruby will report on Pfizer, Millennium Pharmaceuticals, E.I. Lilly, Merc, Novarts.

Attendance Review

No one in default

Financial Report

David talked about managing money for retirement.

There will be a talk on Behavioral Finance on October 11, at 7:00 pm in a church across from the Library in Kensington.  The Club has been invited.

Portfolio Review:

Review of companies followed:

 MTW– John for Dick
The Company is doing good, but the stock does not go up!  It does pay a dividend

EMC – Sandra
Keep it.

MERC – Sanda
In the middle, hold.

Stock Study

Earl reported on ATMEL.  This company has its difficulties.  It looks like it has chosen a great new technology, but it’s management may not know what to do with it.

Industry’s To Study

John and Sandra will report

Next Meeting:  September 21, 2000

Location:        Sandra and David's home - 7PM

Meeting was adjourned at 9:05 pm.