Griffin Speculators Investment Club

Minutes of Evening Meeting held on Wed 31st January 2000

Present: Tim Bentley, Graham Roy, Richard Poole, Ian Cosford,
Nick Walch, Paul Manning, Andy Slinn, Julia Smith, Neil Hogg.

Apologies: Keith Burbanks, Andy Taylor, Dean Cunliffe, Jon Kitch.

Secretary's Caveat (get out)

The meeting lasted about 2 hours and due to the general and
relaxed nature of the meeting it should be noted that these
minutes are a brief record of the meeting. I trust however that
they do encapsulate the main items discussed.


Current Portfolio - aspirations and targets

The meeting agreed that in general there was no benefit in
setting targets for current holdings but rather to stick with the
stop-loss/gain-lock policy as adopted.

All current holdings will be reviewed at the normal monthly
meetings and it was felt that club members would maintain a
careful watch on the current portfolio.

Sectors

The meeting decided that there would be no benefit in allocating
sectors and we would continue as before in considering all
proposals on their own merits.

Finding a Winning Investment

The club needs to invest in a crystal ball, however it was
generally agreed that the quality of the research and knowledge
of the members has palpably improved since the inception of the
club. Many members have gained considerable benefits with
information sources and are now quite webwise.

The general discussion covered Bulletin Boards, Shares magazine,
the business press and various websites.

Topping Up

Members agreed that this should always be a possible proposal. It
is quite likely that, having invested in a share, the club in
general finds out some new information which adds value to the
investment, a member could always propose topping up on the
share.


PennyShare Focus

It was agreed that we should drop the PennyShare focus
recommendation of the month as an automatic proposal unless it
has been adopted, researched and proposed by a member. As the
club is developing more sophisticated research methods it was
felt that this is really now redundant.

Proshare Competition

It was agreed that this should be a regular agenda item in our
monthly meetings.

The Club Website

The meeting agreed that the club website was a great effort and
that we should be making more use of it. It was agreed that we
should maintain a list of useful websites and GR will resubmit
his original post so that they can be incorporated in the website
as direct links.

Emergency Meeting Procedure

The meeting agreed that this needs to be reviewed. Currently the
rules state :

d) A special general meeting may be convened by not less than
three members for the purposes of resolving special items of
club business subject to a written request being submitted
to the secretary who will without undue delay then give at
least 21 days notice to all members.

proposed amended rule :

d) A special general meeting may be convened by not less than
two members for the purposes of resolving special items of
club business subject to a written request being submitted
to the secretary who will convene a meeting as soon as is
practicable. Any such meeting must be attended by at least
50 per cent of the club membership and any resolution
proposed at such a meeting must be agreed by a simple
majority.