That's right.
Remember it's $25 this time. $20 for dues and $5 for petty cash (office supplies, etc.)
Want to put somethingon the agenda? Email Seth at sethlepore@hotmail.com
We will be signing all the paperwork so if you can't be there contact Seth to arrange a time to sign the documents PRIOR to the meeting.
Thanks.
Sunday, January 28, 2007
Minutes from 1.14.07
Jan 14, 2006 Investment Club Minutes
Attendees
Wendy
Stephanie
Johanna
Tim Rich
Sharon
Seth
Kate
Evan
Chris
Howie
Heather
Kenny
Agenda
1 Tim Rich
2. Partnership Agreement
3. Operating Procedures
4. DBA- Cost and Structure
5. Sub committee Status
Tim Rich- Progressive Asset Management
Progressive Asset- Founded by Peter Camejo
Main Ideas- of SRI
1. Social Screens
a. No real standardization in place right now. It’s a work in progress for many SRI Investors
2. Share Holder Advocacy
a. CEO’s have lots of power. Proxy voting is an important issue
3. Community Investing
Definitions:
1. Mutual funds have minimum investment.
2. Balances funds can have 50% or 30% funds. Owning stock is like owning a slice of what the company is in the future. There’s no security in projected income. That’s why it goes up and down
3. Bonds are a set amount and then you receive principle back plus 6% or whatever the interest is. It typically comes in $1000 bonds. You do get tax for interest incurred.
4. Municipal bonds- Issued by Government and not taxed federally. You get a lower interest in Tax free bonds, but interest rate is lower anyway.
Market average returns have been 10%. If we went for 12% we would need to go for aggressive investments. Seek out international Investments. The downside is there are risks not assoc with American companies. Euro dollar value is a factor. Other countries may not be as willing to have us invest. Tim recommended: 30% International. 30% Smaller Co’s and difference in larger companies. Don’t put eggs in one basket. Small Cap* funds may average 10-12%, but international could be up 20% or more. So, avoid huge drops by having different sectors.
*Small Cap- Smaller size companies. There is a little more risk with smaller companies.
Question/Answer with Tim
How do we choose Mutual Funds based on levels of Screens?
-Calvert is a great co to look at. Some companies will try to be SR b/c it’s fashionable right now. Example: Oil companies are now owning solar companies.
Medium screens
The more you exclude the harder it gets to invest. You take more risk by limiting the amount of screens. To be strict on the screens limits your investments. Look past screening process to share holder advocacy. Share holders can be a powerful force in the company to change business practice. Example: Christian Shareholders influencing Disney’s business.
Community Investment Notes- come in $1000 increments.
If loans default – Calvert and ___(I didn’t get the name of the company) will step up and helps so that Shareholders are not responsible for the loss.
Community Investors are focused on making changes in the community rather than making money. Analogy: Acquiring interest on donations to community.
How do we find out how much revenue is done per company toward Tobacco for example?
-Look at Arial, Calvert, Praxis, Domani (they have been around for the longest)
- No telling how to know how much revenue and there are many frustrations/debates on whether to be moderate or strict on screens
Positive Investments
They might look for companies that have excellent labor (for example), Google. Positive means they are making an effort toward the screen.
How do we get the information on how each company’s involvement with what screens?
We have to build a portfolio. Half company might be Mutual Funds and the other half can be companies we want. With mutual funds we have to accept the companies mutual funds process.
How much does a group need to invest in individual company?
$25 or $7. It depends on how cost effective it is. Being on a more aggressive side means to have $1000 or $2000 investment. You never want to buy mutual funds at end of year b/c dividens are payed out at the end of the year. If investment drops in May or June people have to pay on that investment.
General Partnership
This seems to be the way for us to go. See Partnership Agreement
*Seth- Get all information to those who are not here. Have them sign the non representative agreement
DBA Costs
$29.00 + $7 for each additional member $250 which is roughly $12 each
This additional one time cost, not included in $20 investment
Voting
If absent from meeting. Addendums will be up on the blog and you can send vote to Wendy. wendy@heldinlight.com
Attendence at Meetings
Meetings once a month. Try to make each meeting. This is a business. If you cannot be present make sure your $$ gets to missy.
Sub Committees
If somebody wants to study an arena, research, etc,. You can put a committee together for that.
Receipts
Missy can get receipt book or reciept option for people.
Next week Adgenda
Petty Cash
$5 petty cash
Health Insurance
Sharon’s research says that it doesn’t make sense to do HI as a group, but she does have HAS health insurance options. Acupunture options and deals with Alternative Health Care Options. See Sharon.
Attendees
Wendy
Stephanie
Johanna
Tim Rich
Sharon
Seth
Kate
Evan
Chris
Howie
Heather
Kenny
Agenda
1 Tim Rich
2. Partnership Agreement
3. Operating Procedures
4. DBA- Cost and Structure
5. Sub committee Status
Tim Rich- Progressive Asset Management
Progressive Asset- Founded by Peter Camejo
Main Ideas- of SRI
1. Social Screens
a. No real standardization in place right now. It’s a work in progress for many SRI Investors
2. Share Holder Advocacy
a. CEO’s have lots of power. Proxy voting is an important issue
3. Community Investing
Definitions:
1. Mutual funds have minimum investment.
2. Balances funds can have 50% or 30% funds. Owning stock is like owning a slice of what the company is in the future. There’s no security in projected income. That’s why it goes up and down
3. Bonds are a set amount and then you receive principle back plus 6% or whatever the interest is. It typically comes in $1000 bonds. You do get tax for interest incurred.
4. Municipal bonds- Issued by Government and not taxed federally. You get a lower interest in Tax free bonds, but interest rate is lower anyway.
Market average returns have been 10%. If we went for 12% we would need to go for aggressive investments. Seek out international Investments. The downside is there are risks not assoc with American companies. Euro dollar value is a factor. Other countries may not be as willing to have us invest. Tim recommended: 30% International. 30% Smaller Co’s and difference in larger companies. Don’t put eggs in one basket. Small Cap* funds may average 10-12%, but international could be up 20% or more. So, avoid huge drops by having different sectors.
*Small Cap- Smaller size companies. There is a little more risk with smaller companies.
Question/Answer with Tim
How do we choose Mutual Funds based on levels of Screens?
-Calvert is a great co to look at. Some companies will try to be SR b/c it’s fashionable right now. Example: Oil companies are now owning solar companies.
Medium screens
The more you exclude the harder it gets to invest. You take more risk by limiting the amount of screens. To be strict on the screens limits your investments. Look past screening process to share holder advocacy. Share holders can be a powerful force in the company to change business practice. Example: Christian Shareholders influencing Disney’s business.
Community Investment Notes- come in $1000 increments.
If loans default – Calvert and ___(I didn’t get the name of the company) will step up and helps so that Shareholders are not responsible for the loss.
Community Investors are focused on making changes in the community rather than making money. Analogy: Acquiring interest on donations to community.
How do we find out how much revenue is done per company toward Tobacco for example?
-Look at Arial, Calvert, Praxis, Domani (they have been around for the longest)
- No telling how to know how much revenue and there are many frustrations/debates on whether to be moderate or strict on screens
Positive Investments
They might look for companies that have excellent labor (for example), Google. Positive means they are making an effort toward the screen.
How do we get the information on how each company’s involvement with what screens?
We have to build a portfolio. Half company might be Mutual Funds and the other half can be companies we want. With mutual funds we have to accept the companies mutual funds process.
How much does a group need to invest in individual company?
$25 or $7. It depends on how cost effective it is. Being on a more aggressive side means to have $1000 or $2000 investment. You never want to buy mutual funds at end of year b/c dividens are payed out at the end of the year. If investment drops in May or June people have to pay on that investment.
General Partnership
This seems to be the way for us to go. See Partnership Agreement
*Seth- Get all information to those who are not here. Have them sign the non representative agreement
DBA Costs
$29.00 + $7 for each additional member $250 which is roughly $12 each
This additional one time cost, not included in $20 investment
Voting
If absent from meeting. Addendums will be up on the blog and you can send vote to Wendy. wendy@heldinlight.com
Attendence at Meetings
Meetings once a month. Try to make each meeting. This is a business. If you cannot be present make sure your $$ gets to missy.
Sub Committees
If somebody wants to study an arena, research, etc,. You can put a committee together for that.
Receipts
Missy can get receipt book or reciept option for people.
Next week Adgenda
Petty Cash
$5 petty cash
Health Insurance
Sharon’s research says that it doesn’t make sense to do HI as a group, but she does have HAS health insurance options. Acupunture options and deals with Alternative Health Care Options. See Sharon.
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