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Date and time: 8.00pm 10th October 2003
Venue: Marks house Attendees: Bob Taylor
AGENDA 1. What we've sold MINUTES 1. What we've sold Express Dairies made 47%, total profit £235.28. 2. Current Prices CW -50% 3. Dividends SVT £36.27 4. Adjust Buy/Sell Hornby adjust low sell to lock in the profit. Adjust high sell to 1300, low sell to 1060. WOLV currently at +15% of purchase. Keep the high/low sell price as now, and if it hits high sell price we make the low sell price that price and the high sell price +10% of that price. We agreed to do this with all our shares, on the upside. This should help us take advantage of constantly rising shares. This is a change in the way we sell shares. We discussed the possibility of buying back shares if they rise and we sell, then they fall back to the point we first bought them. For further discussion. 5. Paperwork Barclays Bank have taken over Charles Schwab - they've introduced a fee if you don't do a deal every month. Mark phoned them and they have said they've made a cock-up here and this will probably be changed to once a quarter. But they haven't confirmed this yet. Mark will keep an eye on it. 6. Homework Tim recommends Mowlem PLC, house builders and services. Graph steadily rising. Have we missed the boat? Building is big business right now. Profits increasing SB5 MB3 H1. PE 9.9 vs sector avg 10.3 Mark recommends Ben Bailey, suggested by Motley Fool monthly round up of top shares. Construction company, booked until 2004. PE 5.3 vs sector avg 10.3 with full order books. Graph steadily rising. How can they lose? Mark recommends Cadbury Schweppes, chocolate, drinks, chewing gum. Graph risen but dipped recently. Safe share? SB5 MB6 H6 MS5 SS3. Divi 3%. Mark recommends buy more Mitie (construction and maintenance services). SB6 H5. There is no reason not to buy more shares, they still look strong. Graph steadily rising. Mark recommends Scottish and Newcastle. SB4 MB4 H4 MS7 SS7. Good dividend. PE 20 vs sector avg. Graph had fallen but is now steady (as are many). Pablo recommends Smiths Industries SMIN. Medical and Aviation equipment. Graph dipped but now steady. CSFB Bank put price target of 8.40 yield 3.67%, ex-divi next week. SB6 MB6 H6 MS1. £500M cable contract for Lockheed fighter. Pablo recommends Exel logistics. Huge global company; donkey work in managing other companies stock flow, storage, deliveries etc. Recommended Kleinwort Benson who believe stock has underperformed this year. Divi 3.23%, just missed, SB4 MB5 H10 MS 1. Graph dipped now rising steadily. PE 17.5 vs sector avg 14.5. JP recommends Parkdean Holidays, manage Holiday Camps, seven is Sw, seevn up north. Taken over existing sites and converting them to their own style. PE 11.6 vs sector avg 13.16. SB4 H1. Graph risen sharply but it's young company. 7. Voting We voted on the above, we have £3000 to spend. We decided to put the whole pot into one share. Smiths Industries won. Mark to buy these shares on credit ASAP to catch the divi. Sell price low/high +/-20% 8. Next meeting. November 28th at JP's house, casino visit afterwards. ACTION ITEMS Action 1. Homework Action by: All Action 2. Find out more about Barclays / Schwab takeover Action by: Mark JP Nicholls |
