Minutes:

Minutes of meeting held 11th. November 1998 in TC7 at 18:30.

Present:- John Ford, Martin Davies, Arnold Spence, Paul Garcia, Steve Mantz, Chris James. Apologies:- Neil Barron, Martin Ayub.

Our unit price is now 0.66, though everyone is suffering similarly.

Paul said we should use the current low share prices to break into the market.

He suggested checking out JJB Sports shops for activity with a view to buying more JJB shares. Suggested that we buy more JJB Sports shares now. P/E ratio is good at 7.9.

Arnold suggested that Argos will do well over Xmas.

Steve thinks Iomega would be a good buy. Their competitors (Syquest) have gone out of business, leaving Iomega with the major market share. They make Zip drives etc. for computers. They also have a monopoly on the Zip disks that the drives use. They are introducing a new product, the "Clik Disk". They were forecasting an increase in earnings, even before the downfall of Syquest.

Martin suggested that if we bought Iomega we should take our profits from Iomega given a suitable opportunity.

Steve agreed that with technology stocks, timing is crucial. A disadvantage is higher trading costs and a wider buy/sell spread.

Paul thought we need to be more speculative, hence he also recommended Iomega. We decided to buy £500 of JJB and £1500 of Iomega.

Recommended internet sites:- quote.com iii.co.uk (Interactive Investor) bigcharts.com cboe.com (Chicago Board Options Exchange)

Thanks to Chris James for these minutes.

Next meeting is on Wednesday 9th December, also at 6:30pm in TC7.

Martin Ayub,
Secretary.