Meeting Minutes

3.20.2005


Attendees: Nicholas Sarwark, Leroy Cain, Lynn Shniper, Derek Pomery, Esther Whieldon
19:55 - 20:50 March 20, 2005
Quorum
It was determined that more than 50% of the members were present, constituting a quorum.

Treasurer's Report
Tax forms for the partnership will be sent in tomorrow.
We currently have $5326.64 in securities and $533.41 in cash.
Since last meeting we received $6.60 from HET, $1.66 from DIA, $3.51 from CD, and $.04 interest on our credit balance.

Stock Presentations
Exhange Traded Funds (ETFs) - Leroy

What is an Exchange Traded fund and how does it differ from a regular fund? Regular funds allow for the purchase of dollar amounts (fractional shares), ETFs do not. Regular funds must be purchased from the fund company, ETFs are purchased on a stock exchange (usually the American Stock Exchange). Regular funds tend to incur more capital gains than ETFs. Allows one to invest in a fund (limiting risk) with the ease of buying a stock.


Next Meeting
May 1, 2005 at Nick's house.

Action Items
TBD.