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Agenda - Review period of investment and targets
- Review portfolio performance and work out stop-loss points
- Present companies with potential for investment
- Marketing of website.
Click read more below to read the minutes.
Minutes of the 4th MWM Board of Directors meeting held on 26/01/2008 at Hops! (just off the strand). All members present. Nik bought the first round. After discussion about how unrealistic out initial target was (25% increase every 2/3 months) it was decided that the target is now to make 20% increase over a 12 month period. It was remarked by Ben that our share portfolio will not be a linear increase because of the nature of the FTSE, he also quoted Warren Buffet. PROPOSAL made by BEN concerning measure of portfolio performance; Aim to outperform the FTSE by a set percentage. Proposal stalled by other members till a realistic percentage over the ftse could be found and research done on; - Projected growth of FTSE over 12 months following that little mishap last week.
- What growth Funds achieve over a 12 month period
Portfolio Analysis Concerns voiced by BEN and NIK about our initial lack of knowledge about QTI and rush to buy shares. In hindsight we did not do enough research on the company to justify investment at that stage. BEN (and SCOTT, NIK was undecided) still believe they are a good buy and will come through. The decision to buy a risky stock first also seems to have been while not a bad move just inadvisable. It was felt we should have found our feet in the FTSE before hitting the AIM and penny shares. BEN told the group there is a rumour that QTI was ramped; we can do nothing about this but hope. Should the ramping rumours be true we will jump ship when we break even or at the set loss. MOTION (made by SCOTT); If shares drop by the percentage which they are required to rise to break even we sell the shares. The percentage should be based upon Fridays close price. MOTION PASSED – unanimous decision. The actual percentage is to be calculated by each of us by the next meeting. Company Presentations NIK has no company to present to the group. Is currently looking into Transistor Printing and finding UK companies involved. Main company involved is XAL and a subsidiary of FUJIFILM –name unknown. SCOTT recommended NIK to look into AUTONOMY [AU.] because NIK knows about technology sector and SCOTT hasn’t got a Scooby. Ben presented CINEWORLD Link to CINEWORLD notes CINEWORLD was well received but with a few key issues; - More research required on REAL D TECHNOLOGY and whether it can easily be installed onto any digital projector, if any competitors are having it installed and its success in the US.
- Because it is CINEWORLDs first year of trading there is little data around for them. Decided we need to get its numbers for the last 2 years if possible and to look at the projections its competitors are making.
CINEWORLD s accounts are available in March, a decision will be reached on CINEWORLD after the extra information is found. A decision likely to be made in 1-2 weeks. SCOTT presented MAJESTIC WINES Link to MAKESTIC WINES notes SCOTT's notes did not have all information required by NIK and BEN to make an informed decision. SCOTT to find out; · Sales demographic · Breakdown of purchasing and orders eg percentage of sales wholesale · Stocking system employed and whether this would affect profits made from champagne and beer shortages. · Industry average P/E · Annual report · A local MAJESTIC WINES shop to visit. Also SCOTT will ring investor relations and see what they have to say for themselves. Marketing for Website None of us had a clue how to market the website. SCOTT to ask his Online Journalism tutor how to do this. Ideally by next meeting everyone will have come up with an idea to promote the site. Website Generally It was observed by BEN that the articles currently on the site are of general interest and not just a specifically Financial perspective. Hence the website should aim to include loosely financial articles as well as the hardcore stuff. Other ideas brought forward were; - Success to Cock up ratio
- Pints consumed to Profits ratio
- Set up a “contact us” bit so other people can contribute to site provided we like there writing.
- “The Dog House” to be introduced, each week someone will be voted into the doghouse for a reason – however whimsical or trivial. This week it was NIK for turning up late after the time being arranged to suit him.
- A weekly tip from each of us – can be about anything preferably finance related but knowing us it might not be.
- Traffic monitoring needs to be sorted out.
- A Hall of Fame; where we put big achievements of any variety such as amazing decisions and amusing things that happen at meetings (or in the alcohol fuelled maybe afterwards) First thing in it is that NIK made it to BIRMINGHAM after SCOTT put him on a bus to Tottenham Court Road. It is worth noting NIK refused to get on said bus and tried to take SCOTTS phone with him. More details to follow…..
And that bought to a close the meeting of MWM. P.S. There was no other Business.
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