Meeting:

Monthly Meeting - December 2001

 

Held at:

The Brocklebank

Date:

12th December 2001

 

 

Time:

17:30 – 18:30

Prepared by

Dave G

 

Chairperson:

Dave G

 

Present:

Adrian B

 

 

Dave G

 

 

Richard W

 

 

 

 

 

 

 

Apologies:

Kit P, Chris B

 

 

Distribution:

Above plus

   Simon B

   Adrian B

 

 

 

 

Chairman’s Acceptance of Minutes

 


_____________________________________________


____ / _____ / ____

Signature

Date

 

 

 

 

1                             NEXT MEETING

Wednesday 16th January 2002 17:15 - 18:30

Venue: The Brocklebank

2                             Minutes of previous meeting

The minutes from the last monthly meeting were accepted.  The punctuality of their delivery was appreciated and the secretary was praised and thanked (though he wasn’t there to witness it).

3                             ACTIONS FROM PREVIOUS MEETING

3.1                       Actions Closed Since Last Meeting

Ref.

Description & Progress

Status

RW/1120/01

Contact CB about contract note for Delta.

COMPLETE

ALL/1120/02

To review and update mechanical portfolio weightings as per Richard’s email

COMPLETE

3.2                       Actions Carried forward to Next Meeting                                  

See end of these minutes

4                             Treasurer’s Report

4.1                       Annual Report Summary

See Report – all improved except Parity (down approx 20% since last meeting) and Blick (down approx 1% since last meeting). 

Unit value risen from 328.919 to 339.072.

4.2                       Matters Arising From Report

None

5                             Lucky Llama competition

This Month’s Winner: Dave from Chris in second.

Overall, Richard is ahead (up around 30%) with Chris a close second.  Kit remains fully in cash which, even if this eventually wins, will not win any prize money.  However, it’s actually losing overall (which I suppose is an encouraging sign….the fact that we’ve all selected shares that are returning a profit).

All were reminded that there’s only 3 months left to go.

Only RW made a trade this month, selling FKI and replacing them with SAVILS who are a property developer and came of top when Richard applied his own personal preference of mechanical filters/weightings to the stock screener data for the month.

6                             PORTFOlio Management

6.1                       Monthly Reports and Recommendations

Fundamental Portfolio:-

Headlam

HOLD – continues to slowly rise

Blick

HOLD – details in DG’s report.

Cable & Wireless

HOLD – still well above stop loss

 

Speculative Portfolio:-

Parity

HOLD (not worth selling)

Atlantic Caspian

HOLD (even less worth selling (only £4.65 net value!!!))

Templeton Emerging

HOLD

 

Mechanical Portfolio:-

Countryside Properties

HOLD until October 2002

 

6.2                       Stop Loss / Sell Criteria (as of 12th December 2001)

The following is the summary of stop loss positions for each stock in the “Fundamental” sub-portfolio.  The stop loss is invoked against the “end of day” price, but the sell decision may wait for the opening price to avoid rogue trades at the end of day.

Stock

Reportee

“High” Price

Stop Loss (based on the “high”)

Exit Criteria

BLK

Dave

269

200

200 non-trailing but impose 10% trailing  at 300

HED

Kit

259.5

207

20% trailing

CW.

Richard

374(?)

300

20% trailing

6.3                       New Buy Proposals

Given that Shiloh had risen 30% over past 3 months, DG did not resubmit the buy proposal for Shiloh on the basis that there was less value left to realise (and that he couldn’t think of anything different to say about it to make it sound any better than the last two failed attempts to promote it).

It was time to select our second share for the Mechanical Portfolio.  RW had run through the data over the weekend and Barratt Developments had come out top.  However, with AB now having submitted his weightings, RW will incorporate these into the average weightings within the screener tool and re-run the process.  RW will then buy £800 of whatever comes top.

7.                           Competitions

Only the Mirror competition remains active (and even that dies after December 2001).  Competition is in today’s Mirror.  DG will send out details.

8.                           AOB

None

Actions carried forward to next meeting

Ref.

Description & Progress

Target Date

DG/0515/01

DG to summarise ProShare seminar

0615: No progress

0718: No progress

0828: No progress

0919: No progress

1017: In progress

1120: In progress

1212: Almost completed – will definitely be completed by time of next meeting!

16/01/2002

DG/0919/04

DG to add stop loss summary to Web site

1017: No progress

1120: In progress

1212: No further progress – hasn’t updated web site for around 4 months so will start to do so

16/01/2002

CB/1017/01

Give Richard and Chris a £5 Llama prize

1120: In progress

1212: Need to add Dave now as he won the Dec prize

16/01/2002

RW/1212/01

Re-run mechanical process and buy £800 of whatever comes top.

13/12/2001

Proposed agenda for NEXT meeting.
 
RSIC Monthly Meeting - Wednesday 16th january between 17:15 and 19:00

Venue: The Brocklebank

0.      Date of Next Meeting (4 mins)
[Agree a date for the next meeting]

1.      Agenda Changes? (2 mins)
[Any items for AOB or any suggested reordering of agenda?]

2.      Minutes of last meeting (1 min)
[Any comments on minutes from previous meeting

3.      Actions from last meeting (20 mins)
[Progress on actions]

4.      Treasurer's Report (10 mins)

5.      Lucky Llama Competition (10 mins)
[Latest positions and any new buy/sell decisions]

6.      Portfolio Management (30 mins)
6.1 Monthly Report for each Company in Fundamental Portfolio

      6.2 Latest sell conditions for each share held

      6.3 New Buy Proposals

7.      Competitions (10 mins)

8.      AOB