Thought - Jim Fritzsche talked about the tortoise and the hare. Rich people don't sell their stocks, they hold them. Day traders don't make money, and often can't afford to pay the tax prep fee or their tax bill. The tortoise wins.
Guests: Lee Holmes from Point West, Bob Tilley, Heather Story, Steve Gonzalez from Oak Plains Masonic Lodge.
Happy Dollars - Tim Hayes was in Italy for 2 weeks. Randy Smith made 2 trips to the Caribbean. Peggy Porter Honeyman visited Australia and Hawaii. Chris Deering went glamping, visited family, and went to another District's conference. Carroll Dudley went to Amsterdam. He brought caramel waffles and a deck of cards as a present for president Jim Fritzsche.
Tax & Accounting Minute - music for the PowerPoint was not working, so we had no dancing today. And it was determined by the club that the Thought for the Day was already about accounting/tax, so we moved on.
News - Golf Tournament June 14th at 11:00 am at Ancil Hoffman. It's the 44th year for the Carmichael Club to raise money for Easter Seals. They've raised $1.3 million so far. Jay Sedlak is the chairman working in tandem with the major sponsor Pacific Coast Building Products. The cost to participate is $200 per person, or $2,500 for a sponsor. Dick Hall let us know that we'll have a rotation for meals of BBQ, Mexican, Chinese, Pizza, and Italian for our meals when we meet at the Masonic Lodge. He created a feedback note so we can vote on what we like at each meal. Many thanks to Dick for his time & care.
Speakers - Carroll Dudley and Heather Story talked about investing. Heather recently purchased Carroll's share of his Edward Jones business as Carroll retired. The economy is driven by consumer spending 70%, commercial business 15% and government 15%. Agriculture is our highest cost of goods for the energy it requires. When people reach age 35 is when they hold their peak debt. The S&P 500 matches population births in the way it moves up and down. Because the population is growing, the economy is also growing. We may have lumps and bumps, but Carroll doesn't anticipate that we'll suffer a depression again. Heather talked about the consumer price index - that food and energy have been removed from the CPI; our inflation rate is going up faster than we see on news reports. A bond chart was shared with us and explained. Bonds aren't foolproof investments. We should buy bonds when interest rates are high and sell them when rates are low. There are two kinds of investment accounts. Commission based are paid up front and are most appropriate for buy/hold. Fee-based accounts are a newer idea. They are appropriate for those who rebalance regularly or who trade often. Mutual Funds are a good choice for many investors. Carroll designed a Plan23 investment that changes based on what is happening in the market.
Raffle - Maria Mengotti won the Dick Taylor chocolate.
Concluded at 1:15 pm
Attendance (34) - Bob Deering, Chris Deering, Lewie Donhost, Carroll Dudley, Jim Fritzsche, Hanns Haesslein, Dick Hall, Allison Hamaker, Tim Hayes, Kipp Johnson, Jack Kimmel, Keith McBride, Maria Mengotti, Peggy Porter Honeyman, Amy Ruggles, Randy Smith, Dick Bauer, Mark Urban, Vickie Boatwright, Greg Herrera, Jay Sedlak, Mark Beil, Tony Marques, Richard Olebe, George Abraham, Bill Baxter, Stan Roe, Alan Gallaway, Colin Paterson, Walt Malhoski and our four guests.
Upcoming Events
May 17-19: District Conference in Reno
May 22: Ryan Jantzen from Vitalant - Blood Donations
May 28: Ettore's breakfast bunch 7:00 am on Fair Oaks
May 28: Club social at La Rosa Blanca restaurant 2813 Fulton Avenue
June 4: Tuesday night meet with Carmichael - Gold Rush Medicine
June 5: No Wednesday meeting
June 11: Ettore's breakfast bunch 7:00 am on Fair Oaks
June 12: Bill Fritzsche - How to Run 100 Marathons
June 19: Mike Pereria from Fox Sports - NFL Football and B2B
June 25: Ettore's breakfast bunch 7:00 am on Fair Oaks
June 29: Demotion at the Northridge Country Club, $75/person
Heather talked about the consumer price index - that food and energy have been removed from the CPI; our inflation rate is going up faster than we see on news reports. A bond chart was shared with us and explained. Bonds aren't foolproof investments. We should buy bonds when interest rates are high and sell them when rates are low. There are two kinds of investment accounts. Commission based are paid up front and are most appropriate for buy/hold. Fee-based accounts are a newer idea. They are appropriate for those who rebalance regularly or who trade often. Mutual Funds are a good choice for many investors. Carroll designed a Plan23 investment that changes based on what is happening in the market. .png)
