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Minutes for November 16, 2000

Attendees:

Earl Cory, Sandra Dellafiora, Jim Hickey, David Nakamura, Dick O’Brien, John Florence, Ruby Taylor, Robert Weeks, and Jeanne Cherbeneau

Absent:

After a while, everyone showed up. (Ruby at 7:15 and Robert at 7:34)

Location/Time:

7165 Cutting Blvd., El Cerrito CA 7:05 PM.

Minutes Corrections:

Minutes for October were reviewed and corrected.  The spelling of routyness should be changed rowdiness.  Sandra further claimed that it was not she that was rowdy, (or is that they were not rowdies,) but it was the other group.  Jeanne claims that her name is not Jeannie or Jennie.  There was also voice exception to the word admission; most felt that it should have been co-mission.

Treasurer's Report:

It costs $10 for notarizing the transfer to Pipi because she does not use either one of her real names.  Her names are Pipi Re Diamond, Patricia Diamond, and her real name is Ruth Horowitz.  Her father is a famous mathematician who became wealthy after publishing a major math textbook used in many universities.  Nevertheless, she received her stock.

Ruby arrives -- 7:15

Somehow, at this point we slipped into other subjects.

Sandra passed out new Reporting Schedules.  She started a new Motley Fool course on retirement, 35 pages.  Lessons on M, W, F to calculate management fees for mutual funds.  She learned that index funds have low management fees.

Not to be out done, Dick mentioned that he tells people at the airport that he works for the IRS.  I missed the purpose of this statement.

Attendance

Nothing discussed.

Contact information

No Changes

Member News

No member news unless this what we were discussing above.

New Business

John is taking KLAC.

There is an update to our accounting software.  It generates a 1065.  We need the latest revision.

Petty cash is low, $14.  We need more for expenses.  John suggested that we add a one-time fee to our BI dues.

Elections in February, we will need a president at least.

Ruby is off to Europe for a month.  The company is getting her an apartment in Paris.

Robert walks in at 7:34

We will have a December meeting.

Assignments

John and Dick selected Building Materials to study, Home Depot, Lowes, etc.

Financial Report

Robert discussed Price to Sales Ratio for M.F.Capitalization/Sales, additionally consider profit.

Portfolio Review

Review of companies followed:

MTW – Dick
Losing for the year, Cranes falling off.  Higher interest rate, Crane backlog - 21%, mergers good, but volume off.

In Buy range.  They bought back 1,000,000 shares.  Looks good for the long term, but short term-- Pull out and put our money somewhere else---SELL, SELL ….

Jennie moved and Earl second, passed unanimously.

EMC – Ruby
69% increase in sales, price good, double in last year.

ADC – Sandra
Everything is up but the per share price.  Buy range

MRK-Sandra

Sell Range.  Some of their products are coming off patent.  The company has an A++ rating.

Stock Study (Watch List)

David

Vitesse –- Keep on watch list, in hold range.

Altera --- Down, but may stay there for a while.  Don't bother to watch.

Jeanne

Intel - Close to buy range, way down.  Analyst say buy, Good P.E.
Put in limit order at $38 for 30 shares.

TI --- Good P.E., 30.4, today closed at $46, keep on watch list.

Next Meeting:        December 21, 2000
Location:               David's home - 7PM

Meeting adjourned at 9:12 pm.

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