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Date and time: 8.00pm 17th May 2005 Venue: Air Ballon Pub, Gloucs Attendees: John Peprell AGENDA 1. What we've sold MINUTES 1. What we've sold None. 2. Current prices BAA +6% Overall -4% 3. Dividends SMIN £38 4. Adjust buy/sell SMIN adjust low/high sell to +/-20% of current price to lock in profit. We discussed having a share with a huge high/low share window to see what happens over the long-term. We could make a lot... or lose a lot. Decided to leave it up to the individual, if someone decides to take a big risk... 5. Paperwork None. 6. Homework Mark N recommended Sage, Accounting systems. Customers get locked in have to pay annual service fees. Recommendations 8B 8N 3S. Recommended in the Times. Graph steadily rising. A slow but steady company. Dominate this market. Small divi regularly 1.1%. Unless market declines they will continue this way. Pablo recommended Majestic Wines MJW. Turnover steadliy increasing 16% year-on-year. 10% up over Xmas week, divi up 50% last year. Have occasionally bought car showrooms and used them for shops. PE 4.8, i.e. bang on target. 2B 2N 0S. Smoking ban will benefit MJW. Ex-divi 30 June. Pablo recommended Dairy Crest Group. Shitted on by Tescos who withdrew concession, but got Morrisons. Bought out Midland Co-op today. 200m litres of milk p.a. Steadily increased since low in Sept 2004. Ex-divi 7 July, up 20% last year. Profits increasing year-on-year, PE 9.2, 2B 5N, EPS diluted 27.5. Mark de H. recommended Rio Tinto RIO. UK based mining company, metals. Good divi. EPS growth 60%, expected 69% this year. Divi 3% last 2 years, increasing. 13B 6N 1S. Market cap 17bn. Mark de H recommended Xstrata (XTA), mining comany. Swiss-based but operating in SA. Shares up in Feb, dropping since. Market cap 6bn. 6B 6N 1S. PE seemed to go haywire over last 2 years, around 4000, now 984. Mark de H recommended UBS (UBS) Swiss investment bank. 21B 6N 1S. Divi 3.5%. EPS forecast up 22000%. Wealth management, a market which has done well. Share price fell on profit fall which may be more to do with the market - a good time to buy? Market cap £48bn. 7. Voting We have £3000. Voted on 6 shares. £2000 into Majestic Wines, £1000 into RIO. Majestic Wines high/low Sell -20%/+30%, RIO -20%/+30%. Mark will buy tomorrow morning. 9. Next Meeting Next Meeting 2nd July John's house. Card game after. Next meeting we must pick from Leisure Entertainment and Hotels sector. ACTION ITEMS Action 1. New share from Leisure Entertainment and Hotels sector. Action by: All Action 1. Can we buy foreign shares? Action by: Mark de H (from last month) Action 2. Sort out Yahoo dealer recommendation weightings. What do they mean? Action by: JP (from last month) |