Meeting:

Monthly Meeting - February 2002

 

Held at:

SquareONE Cafe

Date:

20th February 2002

 

 

Time:

17:30 – 18:30

Prepared by

Kit P

 

Chairperson:

Simon B

 

Present:

Kit P

 

 

Simon B

 

 

Adrian T

 

 

Richard W

 

 

 

 

 

 

 

Apologies:

Adrian B, Chris B, Dave G

 

 

Distribution:

Above plus Simon B

 

 

 

 

Chairman’s Acceptance of Minutes

 


_____________________________________________


____ / _____ / ____

Signature

Date

 

 

 

 

1                             NEXT MEETING

Thursday 21st March 2002 17:15 - 18:30

Venue: The Brocklebank

2                             Minutes of previous meeting

The minutes from the last monthly meeting were accepted except for the following:

3                             ACTIONS FROM PREVIOUS MEETING

3.1                       Actions Closed Since Last Meeting

Ref.

Description & Progress

Status

None

 

 

3.2                       Actions Carried forward to Next Meeting                                  

See end of these minutes

4                             Treasurer’s Report

4.1                       Monthly Report Summary

See Report – CW. Sold at a kiss.

4.2                       Matters Arising From Report

None

5                             Lucky Llama competition

This Month’s Winner: Dave

The yellow jersey remains with Richard.

Adrian (T) managed to have two picks suspended in the first month.  Richard to give a ruling on the residual value of a suspended stock.

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 – -7.5% v –8.5% in sector

 

Speculative Portfolio:-

Parity

HOLD (not worth selling)

Atlantic Caspian

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

Templeton Emerging

HOLD

London Clubs International

HOLD

Cape

HOLD

A discussion took place about whether Stop Loss should apply to Speculative portfolio.  Conclusion?

Mechanical Portfolio:-

A discussion took place about normalising the weightings.  All agreed the approach.

Countryside Properties

HOLD until October 2002

Wimpey (George)

HOLD until December 2002

The meeting discussed the inclusion of cash when calculating the portfolio splits.  Conclusion?

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

270

223.2

20% trailing

6.3                       New Buy Proposals

Westbury agreed as the buy for the Mechanical Portfolio.

Buy agreed at £800

7.                           Competitions

None

8.                           AOB

Adrian T accepted as a member by unanimous vote.

Actions carried forward to next meeting

Ref.

Description & Progress

Target Date

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

0116: No progress

0220: No progress

21/03/2002

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

0116: No progress

0220: No progress

21/03/2002

RW/0116/01

Richard to send Llama rules to Adrian T

0220: No progress

21/03/2002

KP/0116/02

Bring in Constitution for Adrian to sign

0220: No progress

21/03/2002

RW/0220/01

Rule on the residual value of a suspended stock In Llama competition.

21/03/2002

RW/0220/0

Normalise weightings

21/03/2002

Proposed agenda for NEXT meeting.
 
RSIC Monthly Meeting - Thursday 21st March 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 – ProShare Renewal