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Meeting: |
Monthly Meeting - Feb 2006 |
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Held at: |
The Brocklebank, |
Date: |
15th
Feb 2006 |
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Time: |
17:00
– 18:00 |
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Prepared by |
Simon
B |
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Chairperson: |
K Pimm |
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Present: |
Adrian T |
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Chris B |
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Dave G |
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Simon B |
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Richard W |
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Apologies: |
Dave G Adrian T |
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Chairman’s Acceptance of
Minutes |
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Signature |
Date |
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To be proposed by email – Subject to Dave G’s availability
Suggested dates are 14th Mar or 16th Mar
Accepted.
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Ref. |
Description & Progress |
Status |
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No actions closed since last month |
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See end of these minutes.
See separate report for detail.
Highlights/Lowlights:
A further new record profit of £22.6k. Double digit %age contributions from CodaSciSys, Hunting, Raymarine and yet again Charter (4 in a row).
An additional £250 transferred to deposit account.
Still no response from HMRC
Matters Arising From Report
None
Fundamental portfolio is showing as “too low” with 17% held in this portfolio against strategic minimum of 25%.
We no longer have a Speculative holding but as the strategic range is 0%-25%, this is not actually “too low”.
Fundamental and Speculative proposals are very much encouraged.
See Richard’s report
It was agreed that ISG should be bought (Value selection this month) as the mechanical portfolio should not be influenced by other holdings
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CodaSciSys |
HOLD – Not yet met sell criteria (see table in 5.6 below) |
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ISG |
HOLD – Not yet met sell criteria (see table in 5.6 below) |
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Pace |
HOLD – Not yet met sell criteria (see table in 5.6 below) |
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Raymarine |
HOLD – Not yet met sell criteria (see table in 5.6 below) |
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UBC Media |
HOLD – Not yet met sell criteria (see table in 5.6 below) |
See separate monthly reports for more detail.
No holdings in the speculative portfolio.
Proposals are encouraged.
An iShare may be worth considering; might not double in a year but we should remember that the Speculative portfolio was also to allow us to invest in products or markets that we are not familiar with.
Action 0215/01 CB to email the I share buy proposal, can everyone response with a Yes /No/ don’t know decision
A decision needs to be made at the March meeting if to move more cash into the investment trusts
Action 0215/02 CB To investigate a simpler way of transferring money between accounts
The following is the summary of sell criteria for each stock held within the Speculative or Fundamental portfolios 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.
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Stock EPIC |
Stock Name |
Reportee |
“High” Price |
Stop Loss |
Exit Criteria |
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UBC |
UBC Media |
Chris |
25 |
20 |
25% trailing stop loss Also review
criteria on issue of any company announcement affecting prospects. |
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ISG |
Interior Services Group |
Dave |
255 |
204 |
20% trailing
stop |
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CSY |
CodaSciSys |
Richard |
503 |
377.25 |
25% trailing
stop loss |
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RAY |
Raymarine |
Simon |
308 |
246.4 |
20% trailing
stop loss. |
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PIC |
Pace Micro |
Simon |
75.5 |
37.75 |
50% trailing
stop loss. |
Chris
to email out the I share proposal
None.
From Richard’s mail….
The only major moves
this month were in the wrong direction - Simon seeing Virotec
nearly halve and Richard having CRC Group down by about a third. Not
surprisingly they weren't in the running!
Dave just made it
into positive territory but it was left to Chris to take the
honours with modest rises from Bizspace
and Intermediate Capital Group.
Congrats Chris!
With just one month
to go in this competition, Chris has also leapfrogged
Richard into the
overall lead - but no one is out of the running at this stage
and a close finish is on the cards...
February results:
Chris 1.6%
Dave 0.2%
Kit 0.0%
Richard -7.5%
Simon -8.1%
Overall standings:
Chris £109,357.47
Richard £106,800.29
Dave £105,465.84
Simon £101,187.58
Kit £100,000.00
Dave
made the following entry to Proshare
======================================================================
The Best Investment Club Website
This award is open to: Clubs.
Websites are a great way for club members to communicate with each other and
with other investors, helping to grow the
What is the aim of a club website? We believe it should be to help
provoke ideas across the investment club community When
someone browses the website of another club, what are they looking for?
Possibly it is:-
1. What shares do they hold
2. How has their club performed
3. What is their approach
4. Is there anything our club can learn from their club?
We created www.rollingstocks.co.uk in 1999 as an inward-facing repository of our
meeting minutes. The site still serves that purpose for our Club but its
primary purpose is now to be a source of potential ideas for other clubs.
The Constitution, Rules, minutes, club
profile, current holdings, performance graph, links to
other clubs.....these are the "staple", possibly minimum expected,
content for most club websites. However, whilst these things can answer
questions 1 and 2 above, they don't address 3 or 4.
Our club has performed well in terms of
making profits. We put this down to our detailed strategy and the
discipline of adhering to it. Our website opens up our strategy, provides
access to our templates, makes our annual reviews available and explains our
interesting mechanical sub-portfolio. The 'graphs and stats' pages act as
a metrics catalogue and explain the dangers of relying on unit value as a
performance measure. And with having member in our club who is registered
blind, the website complies with high accessibility settings.
Our club website has attracted comment from
other clubs and we've met a with three other clubs as
a result of contact made through the website. It has been worthwhile in helping
us meet other clubs and, just as importantly, provoke ideas across the
investment club community
Most Successful Club using Traditional Share Trading
This award is open to: Clubs
This award is for the club that has had the
most success using traditional methods of share trading. Success will be
measured in terms of % increase in the value of their portfolio over 2005.
Most
Successful Active Trading Club
This award is open to: Clubs
This award is for the club that has had the most success using both traditional
and alternative trading methods, such as spread betting, CFDs,
warrants, derivatives and penny shares. Success will be measured in terms of %
increase in the value of their portfolio over 2005.
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Value
of club's investments at 31/12/2004 * : |
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£ |
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Cash
in hand at 31/12/2004: |
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£ |
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Value
of club's investments at 31/12/2005 * : |
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£ |
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Cash
in hand at 31/12/2005: |
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£ |
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Total
subs paid by members for purchase of units (01/01/2005 - 31/12/2005): |
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£ |
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Repayments
made to members selling back units (01/01/2005 - 31/12/2005): |
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£ |
* Valuation of the
club's investments should be based on official
Nothing to discuss.
Actions carried forward to next
meeting
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Ref. |
Description & Progress |
Target Date |
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DG/0620/04 (Reassigned from ALL) |
Consider writing an article for a paper or
magazine or a more in depth one for the financial press 0718: No
progress. All to consider possible
ideas, possibly centred on our mechanical portfolio 0810: No
progress 0921: No
progress 1017: No
progress 1128: DG
to create a “straw man” on the Mechanical portfolio 1219: No
progress 0117: Terry Bond’s article in January’s Bloomberg
Money indicates that he will look into our mechanical strategy and ‘report
back next month’. Wait to see whether
anything appears in the Feb issue. 0215: Bought Bloomberg
Money Feb edition and it had no mention of us so looks like we need to write
something and tout it round. I'll see if I can find time to draft a straw
man article on the mech portfolio as suggested in
the action. |
Mar 06 |
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AT/0718/01 |
Issue Chairman’s annual statement for 2005
via email 0810: No
progress 0921: No
progress 1017: No
progress 1128: No
progress 1219: No
progress 0117: No progress 0215: No progress |
Mar 06 |
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DG&SB/0718/14 |
Propose a possible reworked top page for
our website so that navigation can be made more like a portal 0810: No
progress 0921: No
progress 1017: No
progress 1128: No
progress – but still worth thinking about 1219: No
progress 0117: No progress 0215: No progress |
Mar 06 |
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DG/0117/01 |
Update the Strategy with the process to
select the highest ranked Growth stock using the Value weightings if there is
more than one vacancy in the Value portfolio (and the equivalent process for
the Growth side should there be two vacant slots there too). 0215: I sent out the
proposed new strategy doc last week. No comments back yet. Maybe
you could aim to approve at the meeting, or let me know what needs to change. Meeting
update The
basic principle should be that mechanical purchase should only consider the mech portfolio and buy shares accordingly – subject to
normal money management checks |
Mar 06 |
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CB/1128/01 |
CB to produce audit pack 1219: No progress 0117: No progress 0215: No Progress |
Mar 06 |
Proposed agenda for
NEXT meeting.