|Presiding Partner (President)||George Heim (Past President - Al Traynham)|
|Education Partner (Education V.P.)||Doug Kallevig (Past Education V.P. - Norm Grant)|
|Financial Partner (Treasurer)||Jerry Doffing (Past Treasurer -David Pierce)|
|Recording Partner (Secretary)||Sam Charchian (Past Secretary - David Mitchell)|
-The Official minutes of Cosmopolitan Investors 2018-
Important Notice: The Cosmopolitan Investment Club meets at the DoubleTree Hotel, 7800 Normandale Blvd., Bloomington, MN. It is located at the Northwest Corner of Highways 100 and 494. We meet in the nine-mile grill, located just to the right and behind the front desk. Note: From years ago, some will remember the hotel as the Raddison South Hotel.
Cosmopolitan Investment Club Meeting Minutes, June, 2018
Beloved Chairman, George Heim, dropped the gavel and began the meeting at 6:37 p.m.
Role call Just 10 members were present, representing a quorum. Additionally, we had one guest, Larry Keck was John Drewitz' guest.
Meeting Minutes: Secretary Sam read the lengthy minutes adroitly. Hopefully, all of you are reading the minutes here, since there is much frustration with the accompanying editorializing as your humble secretary reads the minutes of the previous meeting. He couldn't help but make a snarky remark to our beloved Treasurer dumping Ms. Tracy and her Paypal stock. All feeble attempts to correct the minutes were foiled.
Treasurer's Report: Jerry Doffing read the monthly (highlights below) report which was approved:
Our current value is $108,697.59,
less contributions made in 2018 of $7,576.35 leaves an adjusted balance for
contributions and withdrawals of $101,121.24. Comparing this to the yearend
valuation number of $89,908.48,
we show a profit (realized and unrealized) of $11,212.76
or 12.47%. Given that
the S&P 500 is up
3.97%, Dow is up 1.50%,
and the NASD is up 12.21% - we remain
noticeably ahead of the Dow and S&P 500 and neck in neck with the NASD. We were sitting on $27,300 in cash as the meeting began. The market is now shifting from big caps to small
Stock Analysis: Jerry provided an analysis of our current holdings and his recommendations which is briefly summarized below:
Buy/Hold: AAPL, AMZN, BA, UNH, V, INTC, MU, NVDA and XPO.
· Education: Our Education Partner, the ever appreciated Doug Kallevig, who hauls in his laptop and screen, and asks for volunteers to help make an educational presentation got a response from Sagacious Sam. Sam explained how to set 2 sell orders on a stock at the same time, which is typically impossible. He explained how (at Schwab) to set a SELL-PROFIT order above your current stock price and simultaneously set a SELL-STOP-LOSS below your stock price. We can do this with conditional BRACKET orders. Sam suggested we typically should set about a 5% loss accompanied with a 15% profit gain, then see which sell order wins. He also explained that the spread you use, should depend on the "average-true-range" of the stock (ATR). Maybe a 10% loss and 20% gain would work better. If we are right just 50% of the time, we will win. Although we did not set any sell "brackets" for any of our stocks at this June meeting, hopefully we will in the near future. As meals were being brought in, Education Partner, Kallevig (the bearded one) showed a web site to explain other ways to protect our portfolios with options -using vertical spreads and even iron-condors. Jerry Doffing seemed to understand what Doug was talking about. We then had a video presentation with some guy talking about his career and Turtles while we finished eating.
After the break, Sam took the opportunity to present a cool stock (PolarityTE) whose symbol is coincidently, COOL. This is a young Salt Lake City regenerative biomaterials company, which is patenting a process to actually grow skin to be used for skin grafting. The company is in it embryonic stage, and has grown from 18 employees last June to 80 this June. Sam found this opportunity in the Investors Business Weekly. He also visited PolarityTE, Inc.'s website and had a ton of information on the company, but no time to present much of it. This is a gamble that Sam took that very morning. Given we have well-established and well-known companies in our portfolio, COOL would be an exciting and worthwhile risk.
Jerry paused, waited for others, then presented 5 stocks for us to consider: Aetna (AET), INTU (Intuit), MA (Master Card), HD (Home Depot) and FIVE (Five Below). Almost everyone was familiar with these companies, except the teenage retailer Five Below.
We began with a motion by David Mitchell to cancel our existing "Sell-Stop" order on Amazon. Jerry moved to amend the motion to set a 5% Trailing-Stop Loss. That passed as did the motion, so we are following our AMZN stock with a 5% trailing stop order.
Jerry moved we sell our CBOE stock at market, which quickly passed.
A motion was made to buy 51 shares of AET which passed.
Jerry then moved we buy 51 shares of INTU, which also passed.
Jerry also moved we also buy 50 shares of MA, which also passed.
Sam moved to sell our Visa at market. That motion failed.
David Mitchell moved to buy 40 shares of COOL, which passed.
· The Finale': Guest Larry Keck commented that he was amazed at the sagacity of our secretary. He thanked his host, John Drewitz, for an entertaining and educational evening.
note: It seems we lollygag about, before and during dinner, then we are rushed during the presentation and especially the business portion of the meeting. Any ideas? Our meetings should be 6:30-8:30.
Motion to adjourn the meeting passed and the gavel was dropped nearly on time, at 8:39 p.m.
Liar's Poker Highlights:
We started with 6 players (Tim Deegan, Bill Kalina, Art Jensen, Norm Grant, Jerry Doffing and Sam Charchian) at 8:50. Once again, Art (Ringo) Jensen demonstrated what its like to have bowling-ball-size testicles between your manly legs. However, sadly,Art showed up with only 9 rings (a bad sign) which doomed him to some tough losses. Bill followed the Nybergian defense theory, by passing a lot and watching his stack grow exponentially. There were several attempts at a Grand Slam mostly by Jerry, Norm and Art. There was all kinds of banter about fishing led by Norm and Tim who were exchanging porno-fish photos. The bottom line is that a good time was had by all, especially Norm who taunted us by wearing his blinking championship necklace. Norm has been KotH since October 2017. This is completely unacceptable. We need a white knight to slay the swine.
Section 2 article d.- Dumb-Ass-Loser Rule: If a slam bid is made (the bubble has none) and the total count is also zero, then the dumb-ass bidder (who went for the grand slam) is obligated to: rise, apologize, and pay out $2 to each player. Optional: He should apologize profusely to the King and offer him a drink.
Click on: Liars Poker Rules to play properly.
What is "Swine Investing?" Some say, "Bulls make money, and Bears make money, but pigs get slaughtered." We say rubbish! The Comsopolitan Investment Club contains members who are Bulls and some who are Bears. Yes, and even swine. We have Swing Traders, and "Buy & Holders". Some dabble in derivitives and Exchange Traded Funds. We sometimes buy for Capital Appreciation and sometimes for income. We have members who are very knowledgeable about stocks and others who know precious little. We have members who study charts and others who pour over balance sheets, income statements and cash Flow statements. Some are bottom-up investors, some are top-down. Some spit on the IBD and some spit on the Value Line. We've got 'em all, except you, so feel free to visit, and check us out at our next meeting. Lately, we've become the Nihilistic Investors: We don't buy much or sell at all. We hold 'em. Oh yeah, we play "Liars Poker" following the formal meeting too. OINK! Find Us
Link: Partnership Agreement
Who are we? We are "Swine Investors" who meet on the Third Monday of each month. We are an "Open Club" to all levels of stock investors. Note that we are a dinner club and usually invest in the market each month. Several members of the group are also members of the Cosmopolitan Toastmasters Club. Several members are NOT. Use the Contacts links at the bottom of this page to ask questions and let us know if you would like to visit -just to "check us out". We are an "open" club. You are most welcome. Oink!
"It's much more important to avoid losing money than it is to make money. If you avoid the big loses, you make money almost by default.".......Jerry Doffing, SFTH International
"No one can outsmart the market; you treat the market like you're dancing with a gorilla. If it wants to lead, let it"......Norm Grant
"Market research tells you what happened yesterday. Sensitivity tells you where the world is going".....Wade Grantham
Typical Meeting Room
Where decisions are made!
"Arrogance destroys more money than stupidy" and "Broad Diversification is plainly and simply often a hedge for ignorance"...Past President, Richard P. Nyberg
Note: This is an actual group photo of 5 members (from left to right): Dave, Bill, Jerry, Norm and George. We meet on the Third Monday of each month at the same pigsty; from 6:30p to about 8:30. We are about a dozen members and have "dinner" (for $20), Later, several members play some competitive "Liars Poker". More Photos. You are most welcome to visit us.
Email Contact: WebMaster Sam Charchian