2005 Club Minutes

 

Crow River Investment Club

Minutes January 13, 2005

 

1. The meeting was called to order by Lynn at 6:35 P.M. Present with payment were: Carole Ripplinger, Marion Marshall, Mike Trisler, Sheryl Sostarich, Lynn Ostrem. Absent with payment were Jo Gabrielson and Craig Block. Also present and late, new applicant Steve Schwartz.

 

2. Secretary’s report was approved.

 

3. Treasurer’s/Club Agent report:                         Bank                                            Broker       Lynn, reporting in Craig's absence.

                Beginning Balance                            $261.59                                         $ 51.54     

                dues collected                                  $320.00

                Transfer to broker 12/21               (  300.00)                                        $ 300.00

                12/21 Sold whole stake in CAH                                                              274.99

                12/21 FactSet Div                                                                                       1.61

                12/28 Purchase 8 HDI                                                                             484.87

                12/29 HDI Div                                                                                            1.25                                                     

                 

                Ending Balance                                281.59                                           $144.52

 

  

4. Portfolio Manager to Call for Stock reports and stock business:

 

                                         FDS           Factset Research                $54.56               Hold

                                         LOW         Lowes                                $56.66               Buy

                                         ACS          Affilated Comp Sv              $57.96               Buy

                                         WMT         Walmart                             $53.99               Hold          

                                         HDI           Harley Davidson                 $59.54               Buy

                                         FDC          First Data                           $41.56               Buy

                                         COCO       Corinthian College              $17.95               Buy

                                         MDT          Medtronic                          $50.20               Buy

                                         KRB          MNBA                              $28.49               Hold          

 

A new stock presentation, Commerce Bancorp, was presented by Sheryl.

 

5. A motion to buy/sell stocks:  A vote was taken to purchase $300.00 each of MDT and FDC, plus trading fee.

 

6. Non-Stock Related Business: A new stock report form was submitted and reviewed. A motion was made and seconded to adopt the new reporting format. Each stock watcher will review their stocks monthly, and fill out the new form, and present a updated report to the club on a quarterly basis. Lynn presented a handout with each stock watchers quarter end dates, when the Valuelines are available and month the stock watcher will update the club on that holding. The form can also be downloaded from the club's web site.

 

Annual meeting worksheets were handed out. Marion volunteered for the Nomination Committee Chair. Carole will chair the Amendments Committee. The current Slate of Officers are: President: Lynn, Vice President: Sheryl, Secretary: Carole, Treasurer-Club Agent: Craig, and Portfolio Manager: Mike. All agreed to retain their current office positions for 2005, if no opposition. Carole will submit, via message board for a group discussion on possibly changing the 20% percentage limit, one member can own of the club portfolio. We need to have feedback on the pros and cons of possibly changing this limit.

 

New applicant Steven Schwartz, answered questions in his final interview by the membership. All members are to cast their "yes or no" vote by email to Lynn, no later than Saturday.

 

7. Education: Sheryl introduced a reading assignment on "Ecomonic Moats". Sheryl briefly summarized the chapter and advised that we should read this chapter before doing our sector analysis sheets.

 

Lynn and Sheryl handed out an S & P Portfolio Diversification Table, with all the club holdings, broken down into sectors, percentages, and caps. We will assign a sector to each member. Each member will fill out the worksheet on his assigned sector and find the best industries in each. Instructions were on the handout. This will help us figure out our weak areas and help us diversify in the best industries. In February we will review the industries chosen, and determine which ones we would like to pursue. In March we will discuss how to proceed with choosing stocks, separately or as a group.

 

     Sector assignments:

          Industrials  -  Carole                          Financials   -  Sheryl                                     

          Materials   -   Mike                           Energy        -  Lynn

          Health       -   Marion                        Consumer Dis. - Lynn

          Consumer Staples  -  Steve               Utilities/ Tele Comm  -  Jo

          Info Tech   -  Craig 

       

Assignments for all:

            Cast your vote, before Saturday, via email for new applicant Steve Schwartz

Read Sheryl's handout on "Ecomonic Moats" which is also posted on the web site, for members only.

Fill out the 2005 Annual Meeting Worksheet: Issues for the floor. (get them on the February adgenda)

Goals for 2005 and Social Events. (Post these before next meeting)

            Fill out your Sector assignment sheet.

            Remember new meeting date - Thursdays thru May                                    

  For individuals:

            February meeting, end of quarter stock reports:

                Lynn: ACS - 2nd Qtr

                Lynn: COCO - 2nd Qtr

                Sheryl: FDC - 4th Qtr

                Mike: HDI - 4th Qtr

                Sheryl: KRB - 4th Qtr

          

Lynn: Purchase $300.00 of MDT and $300.00 of FDC (amount excludes trading fee)

Carole: start message board discussion on changing members maximum 20% of  club holdings.

 

  Next meeting February 10th, 2005, Lynn's house, promptly at 6:30 P M

  Refer to web page for directions, if needed.

 

Adjourn: 8:35

 

 

Respectfully submitted,

 

 

Carole Ripplinger

 

 

Crow River Investment Club

Minutes February 10, 2005

 

1. The meeting was called to order by Lynn at 6:34 P.M. Present with payment were: Carole Ripplinger, Marion Marshall, Mike Trisler, Sheryl Sostarich, Lynn Ostrem, Jo Gabrielson, Craig Block, and new member Steven Schwartz, who was voted into the club via e-mail, during the month.

 

Guest, Tom Killian was present.

 

2. Secretary’s report was approved with one correction: MNBA should be MBNA.

 

3. Treasurer’s/Club Agent report:                         Bank                                            Broker      

Lynn, reporting in Craig's absence.

 

                Beginning Balance                            $281.59                                         $144.52    

                dues collected                                  $520.00

                Transfer to broker 01/20               (  750.00)                                        $ 750.00

                Purchase 7 shares of FDC                                                                       294.30

                Purchase 5 shares of MDT                                                                      259.50

                Dividend WMT                                                                                           2.60

                Dividend KRB                                                                                             1.32

                Dividend FDC                                                                                               .34

                Dividend LOW                                                                                            1.20

                Dividend MDT                                                                                               .42

                 

                Ending Balance                                51.59                                              $346.60

  

4. Portfolio Manager to Call for Stock reports and stock business:

 

                                         FDS           Factset Research                $54.74               Buy

                                         LOW         Lowes                                $58.65               Buy

                                         ACS          Affilated Comp Sv              $53.42               Buy

                                         WMT         Walmart                             $53.46               Hold          

                                         HDI           Harley Davidson                 $61.27               Buy

                                         FDC          First Data                           $41.36               Buy

                                         COCO       Corinthian College              $19.69               Buy

                                         MDT          Medtronic                          $53.34               Hold

                                         KRB          MBNA                              $27.10               Hold          

 

5. A motion to buy/sell stocks:  A vote was taken to purchase $400.00 each of MDT, plus trading fee.

 

6. Non-Stock Related Business: This was our annual meeting.

             Election of Officers:

                 President:  Lynn Ostrem

                 Vice President:  Sheryl Sostarich

                 Secretary: Carole Ripplinger

                 Treasurer: Craig Block

 

2004 K-1's  were handed out to members.

 

Many issues were on the floor for changes to the Partnership Agreement and Operating Procedure Manual. All were issues were presented, reviewed and voted. An addendum is attached with an itemized list of all the changes that were approved to the Partnership Agreement and Operating Manual.

 

7. Education: Sheryl reviewed our reading assignment on " Economic Moats". Highlighted points that should challenge us to pick stocks.

 

Lynn and Sheryl had everyone summarize the top three industries in each assigned sector. Lynn, Sheryl and Mike will screen the stocks in these sectors for the best possible ones to study at next meeting. Each member should also scan their top three industries, and select stocks we should consider reviewing.

           

Assignments for all:

Look at your top three industries, from your last months assignment, select stocks that we might want to consider investigating.  Remember new meeting date - Thursdays thru May                                    

 For individuals:

            March meeting, end of quarter stock reports:

                Carole: LOW - 4th Qtr - Listen to Conference Call

                Mike: WMT - 4th Qtr - Listen to Conference Call

                Jo: MDT - 3rd Qtr- Listen to Conference Call

                Lynn, Sheryl and Mike to screen stocks from sector-industry assignment.         

               Craig: Purchase $400.00 of MDT ( amount excludes trading fee)

               Lynn: Summarize the voting and rewrite and submit an addendum of all changes to PA and OM.

           

  Next meeting March 10th, 2005, Carole's work, promptly at 6:30 P M

  Refer to web page for directions, if needed.

 

Adjourn: 8:40

 

Respectfully submitted,

Carole Ripplinger

 

ADDENDUM TO THE MINUTES OF THE ANNUAL MEETING

FEBRUARY 10, 2005

 

The slate of officers recommended and accepted were Lynn Ostrem as President, Sheryl Sostarich as Vice President, Carole Ripplinger as Secretary, and Craig Block as Treasurer.  The Club Agent position was removed (see below).  Mike Trisler accepted the appointment of Portfolio Manager.

 

The following goals were chosen and accepted by majority vote:

1)      Change the stock selection process to a group effort using sectors and industries.

2)      Redefine the purpose and process of the Watch List

 

The following social events were chosen and accepted by a majority vote:

1)      Black Powder Keg Party with BBQ to follow at the Ripplingers

2)      Dinner with spouses or guest at a restaurant, either cocktails before or dessert to follow at a member’s home

 

Taxes and the Club’s Annual Report were handed out.

 

Amendments submitted and approved at the meeting:

 

1)      The Club Agent position was removed from the partnership agreement by a unanimous vote as it was not found to be needed.  This amends Sections #11 and #16, and those amendments will be added to the back of the P/A as separate amendments.

 

2)      The limit on capital accounts (the amount any single partner may own of the total value of the club) was raised from 20% to 25% by a majority vote. This amends Section #6 and that amendment will be added to the back of the P/A as a separate amendment.

 

3)      Payment to a departing member was changed by a unanimous vote from stock and/or cash at the discretion of the departing member, to stock and/or cash at the discretion of the remaining partners.  In the event of stock transfer, the partner will provide broker account information and the transfer will take place the next trading day after valuation has been established.  The withdrawal will conclude  within 45 days of acceptance of the resignation. This amends Section #19 and that amendment will be added to the back of the P/A as a separate amendment.

 

4)      Finally, the above changes, along with the previous amendments, now makes the original P/A muddy and difficult to read.  Rather than rewrite, then resign, the original agreement, a decision was made, by majority vote, to simply incorporate all the changes to the P/A and add it as an amendment to the original, with a notation that it is an amendment.

 

 

Operating Procedure changes submitted and approved at the meeting:

 

1)      Board Meetings:  We will add “From time to time, as agreed upon by the officers…” to the beginning of this paragraph.

 

2)      Brokers:  References to the Club Agent will be removed.

 

3)      Contributions: References to a club manual will be removed, since we voted to do away with that requirement.  Requirement for NAIC OPS service will be included. And, the 20% limit on capital accounts will be changed to 25%.

 

4)      Elections:  The requirement that calls for a partner to be present at the meeting at which he/she is elected to office will be removed.

 

5)      How to Present Hot Stock Tips:   Change #1 to “Complete stock selection guide and make sure the stock meets the club’s buying criteria.”  Then, change #4 to “Provide copies of your stock report, completed SSG and Value Line page to all in attendance.”

 

6)      Job Descriptions: 
Vice President: Correct spelling error from insuring to ensuring.
Secretary: Remove storage of federal & state filings; add member documentation.
Treasurer & Club Agent: Combine descriptions.
Portfolio Manager: Remove “an NAIC form” and replace with “and other forms which keep” us apprised…

 

Addendum submitted by Lynn Ostrem

 

 

 

CROW RIVER INVESTMENT CLUB

Minutes for March 10, 2005

 

 

1.  The meeting was called to order by Lynn at 6:30 P.M.  Present with payment were: Marion Marshall, Jo Gabrielson, Lynn Ostrem, Sheryl Sostarich, Craig Block, and Mike Trisler.  Absent were Carole Ripplinger and Steven Schwartz, both with notice and payment.  There were no guests or Special Orders.

 

2.  The Secretary’s report was accepted as posted.

 

3.  Treasurer’s report:                                                   Bank                            Broker

 

Beginning Balance                                                         $ 51.59                        $346.60

Dues deposit/ new member fees                                    $355.00                      

Transfer to broker                                                        $100.00

Transfer from bank                                                                                           $100.00

FDS stock split:  11 more shares plus ½ share value                                          $ 17.69

Purchase 7 shares of MDT                                                                               $372.26

Ending Balance                                                             $ 306.59                      $ 92.03

 

4.  Portfolio Manager to Call for Stock Reports:

                       

                        FDS       Factset Research                    $ 36.49                        Hold

                        LOW     Lowes                                    No Report

                        ACS      Affliated Comp Sv                  $ 53.42                        Buy

                        WMT    Walmart                                  $ 53.46                        Hold

                        HDI       Harley Davidson                     $ 54.83                        Buy

                        FDC      First Data                               $ 41.36                        Buy

                        COCO   Corinthian College                  $ 19.69                        Buy

                        MDT       Medtronic                             $ 53.34                        Buy

                        KRB       MBNA                                 $ 27.10                        Hold

 

5.  Open Discussion on Stocks:  FDS is buying back shares and tightening PTP.  MDT has a downward PTP

and Equity.   Sheryl & Mike have different values on their SSG’s.                                                                                                          

 

6.  Call for Motions to Buy & Sell Securities:  A vote of 5 to 1 was taken to purchase $300.00 of MDT, plus trading fee.

 

7.Non-Stock Related Business:

                        a. Unfinished Business:  Revisions to the OP Manuel and P/A have been                                                                posted to the website. Please review them for approval of the final                                                    revisions.

                        b. New Business:  None

                        c. NAIC Calendar of Events:   Classes on Sat. March 12 are still open.

                            Walk-ins welcome.

                        d. Next meeting—Thursday April 14, 2005 at Jo’s house.   Refer to web                                                  page for directions, if needed.

 

8.  Education Segment: 

                        a. Every stock watcher’s current SSG was compared with the PERT                                                         report.

                        b. Procedures for updating SSGs and PERTs were reviewed.  Several

                            were updated and the rest will be updated by Lynn & the stock-watcher.

                            Update per our discussion and send changes to Mike.  Do a full

                            update each month before presenting report.

                        c. SSGs worthy of being on the Master List were presented.  Chico’s,

                            Lowes, and Starbucks ( Lynn), Inv. Financial, Brown & Brown,

                            Commerce Bank, and Winthrop Financial (Sheryl), Biomet, Walgreens

                            (Marion) Caci Consulting, and Kronos Materials (Craig), were                                                              found worthy.  Carole to report next month.  No reports from Jo &                                            Mike.

                        d .Two stocks can be presented per month. The ideal Watch List would                                                     have 2 stocks each Sector.

                        e. The Prospector screen lists 7363 stocks, 31 in the Buy range with a                                             relative value of 1.  Lynn will print the list monthly.

 

9.  Review Assignments from all Meeting Segments:

                        a. Mike to present a new stock next meeting.   Let Lynn know which stock

                            is being presented so placed on the Agenda.

                        b. Craig to purchase $300.00 of MDT plus trading fee.

                        c. Marion to review. Biomet -- 2004 data not on SSG.

                        d. All to review P/A and OP changes on Website.  A vote for approval is                                                 needed.

                        e  Carole to review Lowe’s SSG with Lynn and compare with PERT.

                        f. Carole to present her Master List picks.

                        g. All to consider criteria for placing stocks on the Master list and Watch list.

                        h. What should the minimum criteria be, if stock to be presented not on

                            the Master list?  We need a quality stocks with at least a 5 year history.

 

10. The meeting was adjourned at 8:27 P.M.

 

Respectfully Submitted,

Marion Marshall

Secretary Pro Tem

 

Crow River Investment Club

Minutes April 14, 2005

 

1. The meeting was called to order by Sheryl at 6:35 P.M. Present with payment were: Carole Ripplinger, Marion Marshall, Mike Trisler, Sheryl Sostarich, Jo Gabrielson, Craig Block, and Steven Schwartz. Absent with notice and payment, Lynn Ostrem. Lynn gave Craig her proxy to vote in her absence. Guests:  none

               

Special Orders:  Jo expressed her objection to having appointed Carole as co-portfolio manager. Jo also objected to having any "brainstorming meetings" in between regular meetings. The objections were noted and to be addressed later.

 

2. Secretary’s report was approved.

 

3. Treasurer’s/Club Agent report:                         Bank                                            Broker     

                Beginning Balance                            $306.59                                         $ 92.03     

                dues collected                                  $320.00

                Lynn's April check                               30.00

                Transfer to broker 01/20               (  275.00)                                        $ 275.00

                Purchase 5 shares of MDT                                                                      274.80

                Dividend FDS                                                                                             1.70

                Dividend HDI                                                                                              2.25

                                                                          

                Ending Balance                              $ 381.59                                              $96.18

 

4. Portfolio Manager to Call for Stock reports and stock business:

 

                                         FDS           Factset Research                $30.68               Buy

                                         LOW         Lowes                                $54.81               Buy

                                         ACS          Affilated Comp Sv              $51.96               Buy

                                         WMT         Walmart                             $48.57               Buy           

                                         HDI           Harley Davidson                 $57.27               Buy

                                         FDC          First Data                           $39.07               Buy

                                         COCO       Corinthian College              $15.83               Buy

                                         MDT          Medtronic                          $52.40               Buy

                                         KRB          MBNA                              $24.87               Buy

  Craig reported on FDS's quarterly results.                                  

 

5.   A motion to buy/sell stocks:  A vote was taken to purchase $300.00 each of FactSet and Bed, Bath and Beyond, plus trading fee.

5a. Carole submitted 2 stocks for the Master List, EASI Engineered Support Systems and FAST Fastenel.

      A motion was made/seconded/passed to include these two stock on the Master list.

 

6. Non-Stock Related Business:

                Reminder that the NAIC is April 22-23. Most members plan on attending, one or both days.

                Recruiting new members at the NAIC fair. The same as last year. Wear your badges and hand out prommtional cards, on bulletin board and restrooms.

                Friday night education at the NAIC was reviewed and Q&D SSG's were handed out on corporate presenters..

 

7. Education: This time segment was used to discuss how to refine of stock presentations and portfolio process.

 

Topics discussed, with motions made, seconded and passed: (1) The club Portfolio Manager (s) will be responsible for maintaining the club portfolio's SSGs. (2) The club's Portfolio will be posted to the web site  monthly, the Sunday before the regular club meeting. (3) The stock watcher will maintain his/her book for assigned stocks. They will report any signifcant company news that could impact buying or selling decisions. Update the club after each ending quarter and listen and report the highlights of company conference calls. (4) The club Portfolio Manager (s) will maintain the Master list and Watch list. (4) All members will review, the following investment newsletters, as time permits for stock ideas: S & P Outlook, Morningstar Stock, IAS and BITS.

           

Assignments for all:

            Review Mike's presentation of TEVA, and be ready to discuss.

            Review the three Newletters, Outlook, MorningStar, and IAS

            Bring stock ideas to meeting, do a Q & D SSG for each idea.

          

 For individuals:

                May meeting, end of quarter stock watcher reports:

                      Lynn: ACS 3Qtr, COCO 3 Qtr

                      Sheryl: FDC 1 Qtr, KRB 1 Qtr

                      Mike: HDI 1 Qtr

                Carole:  May stock presenter

                Steve: submit list of companies from Consumer Staples sector for the Master List

                Lynn: Please change MDT, which is listed on our diversification table as a Mid-Cap, should be a Large-Cap.

                Lynn: Make promotional cards to hand out at NAIC Fair.        

               Craig: Purchase $300.00 each of FactSet and BBB ( amount excludes trading fee)

                     

  Next meeting May 12th, 2005, Lynn's house, promptly at 6:30 P M

  Refer to web page for directions, if needed.

 

Adjourn: 8:26

 

Respectfully submitted,

 

Carole Ripplinger

 

 

Crow River Investment Club

Minutes May 12, 2005

 

1. The meeting was called to order by Lynn at 6:35 P.M. Present with payment were: Carole Ripplinger, Marion Marshall, Mike Trisler, Sheryl Sostarich, Jo Gabrielson, Craig Block, Lynn Ostrem. Absent with notice and without payment, Steven Schwartz..

 

                Guests:  Ellie Slette and Katie Solliday

                Special Orders:  none

 

2. Secretary’s report was approved.

 

3. Treasurer’s/Club Agent report:                         Bank                                            Broker     

                Beginning Balance                            $381.59                                         $ 96.18     

                dues collected                                  $320.00

                Transfer to broker                          ( $600.00)                                        $ 600.00

                Purchase BBY 6 shares                                                                           $300.53

                Sold BBY 6 shares                                                                                   $286.49

                Purchase BBBY 7 shares                                                                         $ 270.15

                Purchase 10 shares of FDS                                                                      $ 298.05

                Dividend KRB                                                                                         $ 1.54

                Dividend WMT                                                                                        $ 3.00

                Dividend FDC                                                                                          $ 1.44

                Dividend LOW                                                                                         $ 1.20

                Dividend MDT                                                                                       $ 1.84

                                                                          

                Ending Balance                              $ 101.59                                           $122.96

  

4. Portfolio Manager to Call for Stock reports and stock business:

 

                                         FDS           Factset Research                $27.89               Incomplete Data

                                         LOW         Lowes                                $53.54               Buy

                                         ACS          Affilated Comp Sv              $47.94               Buy

                                         WMT         Walmart                             $48.96               Buy           

                                         HDI           Harley Davidson                 $48.85               Buy

                                         FDC          First Data                           $38.01               Buy

                                         COCO       Corinthian College              $13.83               Recommend Sell

                                         MDT          Medtronic                          $52.13               Buy

                                         KRB          MBNA                              $19.70               Buy

                                         BBBY        Bed bath & Beyond           $36.83               Buy

 

Quarterly reports: Lynn reviewed COCO and ACS. She recommended that we sell all COCO. Sheryl reviewed FDC and KRB. Mike reviewed HDI.

                                        

5.   A motion to buy/sell stocks:  A vote was taken to sell our entire stock in COCO. No other purchases were voted on.  It was voted to add TEVA to the watch list.

 

 6. Non-Stock Related Business:

                Marion was assigned to be the stock watcher for BBBY.

                Sheryl requested the reassignment of FDC. It was assigned to Steven.

                Sheryl is the new E-News Editor for the local NAIC chapter. She brought some copies of the           

                May 2005 newsletter. If you are not on the email list, you can sign up at HatLadyMN@yahoo.com.

 

7. Education: Sheryl handed out copies of chapter 6 from "The Five Rules for Successful Investing" for eveyone to read and be prepared to discuss next meeting..

 

Assignments for all:

            Review Carole's presentation of EASI, and be ready to discuss.

            Review the handouts on prospector criteria and data terms, so we can finalize club criteria.

            Review the handouts on chapter 6 of The Five Rules for Successful Investing.

            Look at your calendar and select dates open so we can select the BP keg party date.

            Email open dates to board.

          

 For individuals:

                June meeting, end of quarter stock watcher reports:

                      Carole : Lowes 1Q

                      Jo: Metronics 4Q

                      Mike: Walmart 1Q

                Marion:  June stock presenter, BioMet

                Steve: submit list of companies from Consumer Staples sector for the Master List

                Mike: Provide comparison on Generics

                Lynn: 2005 Stock report schedule, delete COCO and add qtrly rport dates for BBBY,

                ( Marion) Change FDC to Steven.

                Craig: Sell entire stake in COCO

                Craig, Mike or Carole: review and input missing numbers in FactSet's SSG, so it's up to date.           

           

Next meeting June 14th , 2005.  Carole's business, promptly at 6:30 P M. Reminder, back to meeting on

Tuesdays.  Refer to web page for directions, if needed.

 

Adjourn: 8:35

 

 Respectfully submitted,

 

 Carole Ripplinger

 

 

Crow River Investment Club

Minutes June 14, 2005

 

1. The meeting was called to order by Lynn at 6:37 P.M. Present with payment were: Carole Ripplinger, Marion Marshall, Sheryl Sostarich, Jo Gabrielson, Craig Block, Lynn Ostrem. Absent with notice and without payment, Mike Trisler. Absent without notice and without payment, Steven Schwartz.

 

                Guest:  Jack Zhang

                Call for checks:  all payments received, excpet as noted above.

                Special Orders:  none

 

2. Secretary’s report was approved.

 

3. Treasurer’s/Club Agent report:                    Bank                                          Broker     

                Beginning Balance                     $101.59                                       $122.96 

                dues collected                             $320.00

                5/20 Sold COCO 39 shares                                                             540.97

                                                                          

                Ending Balance                         $ 421.59                                       $663.93

 

  

4. Portfolio Manager to Call for Quarterly Stock reports and stock business:

 

Lowes: Carole reported on the end of the 2nd quarter                     $58.00               Buy

Walmart: No report, stock reporter, Mike, absent.

Medtronic: No report, stock reporter, Jo, left report at home

                                        

5.  A motion to buy/sell stocks:  A motion was made and seconded, to purchase $500.00 each of BBBY and HDI, excluding trading fee. It was voted to add EASI to the watch list.

 

6. Non-Stock Related Business:

The final date for the BP Keg party was set to August 27 and if rain, will be changed to the 28th. Final details as to time and food will be discussed later.

 

7. Education: Sheryl sent a copy of MDT’s conference call to all members during the month. We all reviewed how to read and interpret the call.

           

Assignments for all:

            Review Marion’s presentation of BioMet, and be ready to discuss.

            Review the handouts on chapter 6 of The Five Rules for Successful Investing.

           

 For individuals:

                July meeting, end of quarter stock watcher reports:

                      Craig : FDS 3Q

                      Marion: BBBY 1Q

                      Mike: Walmart 1Q to be repeated

                      

            Sheryl:  July stock presenter, Commerce Bank

            Craig: Purchase $500.00 each of HDI and BBBY. 

            Craig: Purchase a copy of Prospector for Mike.

            Marion: brief report on the 4qtr of BioMet

           

  Next meeting July 12th , 2005Lynn’s House, promptly at 6:30 P M. Reminder, we’re back to meeting on Tuesdays.

  Refer to web page for directions, if needed.

 

Adjourn: 8:30

 

Respectfully submitted,

Carole Ripplinger

 

Crow River Investment Club

Minutes July 12, 2005

 

1. The meeting was called to order by Lynn at 6:33 P.M. Present with payment were: Carole Ripplinger, Marion Marshall,  Sheryl Sostarich, Craig Block, Lynn Ostrem, Mike Trisler and Steven Sschwartz. Absent without notice and payment, Jo Gabrielson.

 

                Guess: none

                Call for checks:  all payments received, except as noted above.

                Special Orders:  none

 

2. Secretary’s report was ammended as follows: the critera for stock selections was finalize and accepted.

 

3. Treasurer’s/Club Agent report:                    Bank

                Beginning Balance                     $421.59

                dues collected                           $320.00

                Transfered to broker                ($400.00 )

   Ending Balance                                        341.59

   

                                                                 Broker

               Beginning Balance                     $663.93

              Transfered to broker                    400.00

              Purchased 11 shares BBBY         491.94

              Purchased 10 shares HDI            502.95

                Dividends WMT                           3.00

                Dividends FDS                             2.20

                Dividends HDI                             2.28

                                                                          

                Ending Balance                        $ 77.12

 

4. Portfolio Manager to Call for Quarterly Stock reports and stock business:

 

Medtronics: Jo was missing, no report.

Walmart: Mike reported and recommend a buy.                                                            .

FactSet: Craig reported, recommended a hold.

Bed Bath & Beyond: Marion reported and recommended a buy.

 

Sheryl reported on MBNA's acquisition by Bank of America. It was recommended to sell our entire holdings.

 

Sheryl presented a new bank stock, Commerce Bank has alternate financial stock for our portfolio.

 

Lynn reviewed our previous presentation on Biomet last month.

 

Mike took over the new position of creating and managing the Master List. Using the Club purchased program,  Prospector. Carole is to take over as Portfolio Manager.

                                        

5.  A motion to buy/sell stocks:  A motion was made and seconded, to purchase $400.00 each of Commerce Bank and Biomet,  excluding trading fee. It was voted to sell all shares of MBNA

 

6. Non-Stock Related Business:

                Food for the  BP Keg party was assigned as follows:

 

Club will pick of the tab for the chicken.

Marion-salad, Lynn-appetizer and dessert,  Craig- sidedish, Mike sidedish, Sheryl-fruit, Steven- dessert, Carole-beverages.

 

It was voted to amend the by-laws on voting procedures. After email voting for admission of a new member, all ballots will be certified by the president and secretary and then destroyed.

 

7. Education: Sheryl emailed everyone during the month to do an SSG on Staples.We compared everyone's judgements. We did not have time to review chapter 6 on The Five Rules for Successful Investing.

           

Assignments for all:

Download and Review the chapter 7 of The Five Rules for Successful Investing. And bring a copy of your proxy statement from the stock you are watching.

           

 For individuals:

                August meeting, end of quarter stock watcher reports:                     

                      Lynn: ACS

                      Mike: HDI

                      Steven: FDC new stock watcher

                      Jo: Medtronic

                Lynn:  August stock presenter

               

                Craig: Purchase $400.00 each of Commerce Bank and Biomet.

                Craig: Sell MBNA

                Craig: Make sure web site is updated with transactions promptly.

                Lynn and Mike to get together and review "Prospector"

               

 Next meeting August 9th , 2005Lynn’s House, promptly at 6:30 P M.

 Refer to web page for directions, if needed.

Adjourn: 8:36

 

Respectfully submitted,  Carole Ripplinger

 

Crow River Investment Club

Minutes August 9, 2005

 

1. The meeting was called to order by Lynn at 6:36 P.M. Present with payment were: Carole Ripplinger, Marion Marshall,  Sheryl Sostarich, Craig Block, Lynn Ostrem, Mike Trisler and Steven Schwartz. Absent without notice and payment received, Jo Gabrielson.

 

                Guess: none

                Call for checks:  all payments received, except as noted above.

                Special Orders:  none

 

2. Secretary’s report was approved.

 

3. Treasurer’s/Club Agent report:                    Bank

                Beginning Balance                     $339.59

                ck 1054 Prospector                      64.00

                dues collected                           $310.00

                Transfered to broker                ($550.00 )

                Reverse bank fee                           (2.00)

   Ending Balance                                          37.59

   

                                                                 Broker

               Beginning Balance                     $77.12

              Transfered to broker                    550.00

              Sold KRB 11 shares @25.98      278.81

              Pur 10 shares Biomet                  369.85

              Pur 12 shares Commerce Bank   392.63

                Dividends KRB                           1.54

                Dividends FDC                           1.44

                Dividends LOW                          1.80

                Dividends MDT                           2.12

                                                                          

                Ending Balance                     $ 150.35

 

  

4. Portfolio Manager to Call for Quarterly Stock reports and stock business:

 

Medtronics: Jo was missing, no report.

ACS: Lynn reported, buy.

HDI: Mike reported and recommend a hold.                                                                 .

FDC: Steven reported, recommended a sell.

 

Lynn's stock presentation was Stericycle, Inc. SRCL.

 

5.  A motion to buy/sell stocks:  A motion was made and seconded, to purchase $400.00 each of Commerce Bank, Teva Phar. and C H Robinson,  excluding trading fee. It was voted to sell all shares of First Data.

 

6. Non-Stock Related Business:

        Due to the number of members who will be missing from the September meeting. It was voted, to cancel the September meeting, and waive September contributions until October meeting. October meeting will meet as scheduled and contributions for both September and October will be due.

 

       Steven Schwartz will be the new stock watcher for both Teva and C H Robinson.

 

7. Education: Sheryl reviewed Chapter 7 of The Five Rules for Successful Investing. "Management" Reviewing how to screen the Proxy statement. Also the group compared individual SSG's for UNH.

           

Assignments for all:

                Review Lynns' presentation on SRCL and be prepared to review and ask questions.    

                Send Sheryl ideas for education.                                                            

 For individuals:

                September/October meeting, end of quarter stock watcher reports:                     

                      Carole:  Lowes

                      Jo: MDT

                      Mike: Walmart

                     Craig: FDS

                               

                Craig: Purchase $400.00 each of Commerce Bank, Teva, and C H Robinson.

                Craig: Sell FDC First Data Corporation.

                Craig: Stock presentation, October

                           

            

  Next meeting October 11th , 2005Lynn’s House, promptly at 6:30 P M.

 

  Refer to web page for directions, if needed.

 

Adjourn: 8:40

 

 

Respectfully submitted,

 

 

Carole Ripplinger

 

 

Crow River Investment Club

September, 2005 – No Meeting

 




Crow River Investment Club

Minutes October 11, 2005

 

1. The meeting was called to order by Lynn at 6:34 P.M. Present with payment were: Carole Ripplinger, Marion Marshall,  Sheryl Sostarich, Craig Block, Lynn Ostrem, Mike Trisler and Steven Schwartz. Absent without notice, check received, Jo Gabrielson.

 

                Guests: none

                Call for checks:  all payments received, except as noted above.

               

Special Orders:  Jo Gabrielson has missed 3 meetings without notice. Per the by-laws, Section 21 calls for automatic withdrawal of membership. Her check will be returned. Lynn will send notice of termination and request Jo’s stock broker information, routing number, and her requests as to which stocks she would like transferred, per her valuation.  Payout will be scheduled per club bylaws.

 

2. Secretary’s report was approved.

 

3. Treasurer’s/Club Agent report:                    Bank

                Beginning Balance                     $37.59

                dues collected                           $310.00

                Transferred to broker                ($300.00 )

             

   Ending Balance                                          47.59

   

                                                                 Broker

               Beginning Balance                     $150.35

              Transferred to broker                    300.00

              Purch 6 shares CH Robinson         361.79

              Purch 11 shares Teva                    368.30

              Sold 24 shares FDC                   (996.44)

                Dividends WMT                           3.00

                Dividends TEVA                            .60

                Dividends FDS                             2.20

                Dividends MDT                           2.12

                                                                          

                Ending Balance                      $ 326.84

 

  

4. Portfolio Manager to Call for Quarterly Stock reports and stock business:

 

Since our September meeting had been waived, the group called up the portfolio and reviewed each SSG and was filled in on any news by each stock watcher. HDI current results and valuation was a concern to the group. It was decided to wait until the new earnings release, which was Oct 12th before we decided to hold or sell.

 

Craig's new stock presentation was Investors Bank and Trust IFIN.

 

5.  A motion to buy/sell stocks:  A motion was made and seconded, to purchase $300.00 of Commerce Bank.

 

6. Non-Stock Related Business:

        Holiday club gathering is scheduled November 19th. Where and what time will be discussed at next meeting. Mark your calendars.

        Sheryl stepped down as our education, vice president. She will now be the Master List Manager. Mike took over the education and vice president chair.

 

7. Education: none.

           

Assignments for all:

                Review Craig's presentation on IFIN and be prepared to review and ask questions.    

                Send Mike ideas for education.                                                              

 For individuals:

                November meeting, end of quarter stock watcher reports:                     

                     Lynn:  ACS

                     Mike: HDI

                     

                    Lynn: Letter to Jo                                                      

                   Craig: Purchase $300.00 of Commerce Bank              

                    Mike: Stock presentation, November

                                      

  Next meeting November 11th , 2005Lynn’s House, promptly at 6:30 P M.

  Refer to web page for directions, if needed.

 

Adjourn: 8:37

 

Respectfully submitted,

 

Carole Ripplinger

 

 

Crow River Investment Club

Minutes November 8, 2005

 

1. The meeting was called to order by Lynn at 6:30 P.M. Present with payment were: Carole Ripplinger, Marion Marshall,  Sheryl Sostarich, Craig Block, Lynn Ostrem, Mike Trisler and Steven Schwartz.

 

Call for checks:  All payments received

Special Orders: Jo Gabrielson's buy-out per valuation date. Transfer all shares of  Medtronic and a check will be sent for the balance.

 

2. Secretary’s report was approved.

 

3. Treasurer’s/Club Agent report:              Bank

                Beginning Balance                     $47.59

                dues collected                           $500.00

                             

   Ending Balance                                       $547.59

   

                                                                 Broker

               Beginning Balance                     $332.64

               Pur 10 shares Commerce           (292.45)

                Dividends CHRW                           .90

                Dividends HDI                              4.48

                Dividends Commerce Bank            2.53

                Dividends LOW                            1.80

                Dividends MDT                           2.12

                                                                          

                Ending Balance                        $ 52.02

 

  

4. Portfolio Manager to Call for Quarterly Stock reports and stock business:

 

Quarterly reports were presented on ACS, with a recommended HOLD.  CHRW, with a recommended HOLD.  HDI, with a recommended SELL. TEVA, with a recommended SELL.

Sheryl brought us up to date with current news on Commerce Bancorp.

 

Mike's stock presentation was Lennar Corp.

 

It was voted to drop EASI from the club's watch list. Both IFIN and SRCL are to be added to watch list. Lynn will drop the PE ratios on IFIN.

 

5.  A motion to buy/sell stocks:  A motion was made and seconded, to purchase $300.00 each of Biomet and Lowes, and sell all shares in TEVA and HDI.

 

6. Non-Stock Related Business:

Holiday club gathering is scheduled November 19th, at the Black Woods, 6:00pm.

      

7. Education: none. Ideas for education:  We discussed having an educational training every 3rd month; doing a joint SSG (BI Stock to Study) every 3rd month, and doing an in-depth review of one of our holdings or watch list stocks every 3rd month.  Everyone seemed to like that.

           

Assignments for all:

Review Mike's presentation on Lennar Corp and be prepared to review and ask questions.    

Send Mike ideas for education.                                                              

 

For individuals:

December meeting, end of quarter stock watcher reports:                      

    Carole:  LOWES

    Mike: Walmart

    Craig: Purchase $300.00 each of Lowes, $300.00 Biomet and Sell entire TEVA and HDI

    Sheryl: Stock presentation, December  Brown & Brown

                           

Next meeting December 13th , 2005Lynn’s House, promptly at 6:30 P M.

 

Refer to web page for directions, if needed.

 

Adjourn: 8:28

 

 

Respectfully submitted,

 

 

Carole Ripplinger

 

 

Crow River Investment Club

Minutes December 13, 2005

 

1. The meeting was called to order by Lynn at 6:36 P.M. Present with payment were: Carole Ripplinger, Marion Marshall,  Sheryl Sostarich, Craig Block, Lynn Ostrem, Mike Trisler and Steven Schwartz.

 

            Guest: Jeff Williams

            Call for checks:  all payments received

Special Orders: Jo Gabrielson's buy-out was on  November 19, 2005. We transferred 22 all shares of Medtronic and issued a check for $1329.56.

 

2. Secretary’s report was approved.

 

3. Treasurer’s/Club Agent report: 

 

Correction to Octobers minutes Treasurer's report:  The 11 shares purchased of Commerce Bank came to $389.86. And the dividend for MDT of $2.12 was reported in error. Correcting the ending balance to $332.64.

 

                                                                    Bank

                Beginning Balance                     $547.59

                dues collected                           $250.00

                transfer/from broker                  $900.00

                withdrawl - member                $1,329.56

                             

   Ending Balance                                          368.03

   

                                                                 Broker

               Beginning Balance                     $52.02

              Sold HDI 28 shares               $1450.66

              Sold TEVA 11 shares                420.60

              Pur 8 shares Bimet                   (299.11)

              Pur 4 shares LOW                   (248.95)

              transfer to bank                        (900.00)

                                                                          

                Ending Balance                        $475.22.

 

  

4. Portfolio Manager to Call for Quarterly Stock reports and stock business:

 

Quarterly reports were presented on Lowes, with a recommended Buy.  WalMart, with a recommended HOLD. 

 

Sheryl's stock presentation was Brown & Brown BRO.

 

5.  A motion to buy/sell stocks:  A motion was made and seconded, to purchase $300.00 each of Biomet and Walmart

 

6. Non-Stock Related Business:  2005 Audit committee, Lynn, Craig and Mike. Audit date to be selected.

 

Lynn to bring worksheets for signing up for meeting locations, stock reports, and stock watchers quarterly reports.    

 

7. Education: December "Holiday" meeting consisted of stock related games.

 Lynn handed out a list of education topics. Please review and send your selections to Mike.

           

Assignments for all:

                Send Mike ideas for education.                                                              

 For individuals:

               January meeting, end of quarter stock watcher reports:  currently not available

 

               Lynn: to make up stock report schedule and quarterly report schedule to be

   filled out at January meeting.

                                                      

              Craig: Purchase $300.00 each of Biomet, $300.00 Walmart

                                          

              Lynn: Stock presentation, January meeting

                                     

  Next meeting January 10th , 2005Lynn’s House, promptly at 6:30 P M.

 

  Refer to web page for directions, if needed.

 

Adjourn: 8:33

 

Respectfully submitted,

Carole Ripplinger