Cosmopolitan Toastmasters

     -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, July, 2018

Beloved Chairman, George Heim, dropped the gavel and began the meeting at 6:32 p.m.

Role call  Just 11 members were present, representing a quorum.  Additionally, we had two guest, Larry Keck was John Drewitz' guest for the 2nd time.  A youthful Tom Mosman also visited via meetup.

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.  All feeble attempts to correct the minutes were foiled.

Treasurer's Report:  Jerry Doffing read the monthly (highlights below) report which was approved:

A few of you are curious of where we are year to date as far as profitability. Our current value is $108,768.81, less contributions made in 2018 of $8,086.35 leaves an adjusted balance for contributions and withdrawals of $100,682.46. Comparing this to the yearend valuation number of $89,908.48, we show a profit (realized and unrealized) of $10,773.98 or 11.98%. Given that the S&P 500 is up 4.78%, Dow is down 1.21%, and the NASD is up 13.36% - we remain noticeably ahead of the Dow and S&P 500 and now losing distance with the NASD. The market is now shifting from big caps to small cap stocks and FANG stocks continue to soar.

We currently have 17 members in our club. I understand at this meeting discussion and a vote will be conducted to determine if raising the membership limit from 18 to 20 members is in the best interest of the club. Please plan on attending to voice your opinion and vote. If you are a returning guest, please bring your checkbook if you wish to be considered for membership

Stock Analysis:  Jerry provided an analysis of our current holdings and his recommendations which is briefly summarized below:

Buy/Hold:  AAPL, AET, AMZN, BA, V, INTC, INTU, MA, MU, NVDA, UNH and XPO.

Sell/Hold:  COOL...screaming sell.

·       Education:  Our Education Partner, the ever appreciated Doug Kallevig, who hauls in his laptop and screen, seemed relieved when President Heim announced the agenda presented to him by Past President Traynham.  Jerry Doffing moved to move the Education Presentation to just before guest and member comments.  The purpose was to have the education presentation held and presented if there is time at the end of the meeting.  This would free up some time earlier in the program for stock presentations.  

Stock Presentations:

Jerry suggested we maintain a "watch list" of 10 stocks, and offered the following:  NFLX which had a huge drop the same day, and led to a lot of discussion, then COST, CHDN, AVGO, CNC, ATVI, CRM, SNE, LMT, ALXN and finally AMTD.

Investment Business:

It should be noted we were almost totally invested.  Since we were without cash, Jerry moved to quickly sell our COOL stock.  Sam explained that the company was being attacked by a "shorting company" accusing the CEO of being a liar and fraud, focusing on a rejection of a critical patient and Executives selling their shares.  This was all denied at the PriorityTE website. Also, a class action lawsuit was filed against COOL.  The motion was easily passed.   

With just a few dollars, Max moved we purchase 4 shares of COST at market, which passed.  Then Jerry calculated our cash situation and moved we purchase 1 more share to make it 5 total shares of Costco.  

·      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.  Guest Tom Mosman asked a bunch of questions about the procedure for joining and cost.

Closing:

Motion to adjourn the meeting passed and the gavel was dropped, at 8:40 p.m.

Liar's Poker Highlights:

We started with 5 players (Tim Deegan, Bill Kalina, Art Jensen, Norm Grant, Jerry Doffing and Sam Charchian) at 8:45.  Norm showed up at 10:00 bringing even more excitement to the event. Once again, Art (Ringo) Jensen demonstrated what its like to have bowling-ball-size testicles between his manly legs.  Take no risk 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, Tim, Norm and Art.  Once again, there was all kinds of banter about fishing led by Norm and Tim.  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.

Important Links:      Letters-to-the-Editor ;   Club Photos;   Official Partnership Agreement