Club Biomed &endash; Meeting Minutes
&endash; 15 October 2003
Welcome and monthly contribution collections.
John and Carlos reported on the status of Club Biomed's real
portfolio & indexes.
- Club Biomed Portfolio up 2.5% with a $2987 in cash
- Club Biomed shares $28.42 (up 13.7%, but down 2.2% from
- Mutual funds up 5.02% (from 6.96%)
- Random walk up 61.56% (from 80.2%)
- Virtual one up182.5% (from 233%)
Report Andrea on electronic communications via the Yahoo group
that she established
you can post messages directly at
http://groups.yahoo.com/group/ClubBioMed/ or send them to
- 56 current members
- Private group, only by invitation.
- Can alter email preferences by going to website.
- Can post messages between meetings to foster discussions.
- Are database and file capabilities.
- Jeanne is our new assistant Financial Partner.
- Andrea is our new procedural and recording partner.
Educational and quick presentations focusing on binary
- MLNM benchmarks by Carlos: The March presentation of MLNM
outlined 8 binary events that should influence MLNM, and the
reporting group felt there were to many variables to recommend a
purchase. In retrospect two of the events went well for MLNM and
the stock price has doubled! Perhaps we should try to focus on
fewer events and be willing to make predictions based on our
knowledge and Experience.
- The FDA report on CEPH by John: The FDA advisory panel acted
on 25 of sept and recommended extending the approved uses of
Provigil, but split on recommending it for general use in sleep
wakefulness. The FDA memo was interesting in that it included a
number of common sense issues about the drug. The market moved
very little in response to these developments.
- Amylin by Connie: This company has several promising
approaches to treating diabetes. Although there are concerns
obout its financial position, it is worth exploring. Important
results are due in December.
- DNDN by Dasha: DNDN has promising immunotherapy approaches for
some types of prostate cancer, but the importance of the market
and the long term value of the therapy remains to be fully proven.
It is worth watching.
- DNA by Jide: DNA is a large company with so many events it
does not lend itself easily to a simple analysis. It is clear
that they are making money at an increasing rate and developing
and introducing new products, but these positive qualities may be
reflected in its current price and high P/E. A small discussion
after the meeting led to the idea that it might be an interesting
replacement for PFE if we sell that stock.
- The binary events committee and analysis of the presentations:
John asked the partners to express their views on what we should
do at the next meeting and the hope that the binary events
committee would provide some guidance for the group in setting
identifying stocks that should be studied. The group agreed that
at this time Amylin should be studied in more detail and a
committee for this purpose was formed. Vineet suggested several
stocks that he thought merited attention, and two addition
presentations were agreed upon PGNY from Johanna and VRTX from
A report from the Binary event Committee and discussion of the
agenda for next month's meeting by Vineet and John, respectively
Planned Agenda items for Nov or other fall meeting include:
- An educational presentation on reading a balance sheet (by Gus
K or by John).
- A few Quick presentations (PGNY from Johanna and VRTX from
- A more detailed analysis of Amylin from Connie, Carrie,
Carlos, & Imke with a plan to vote on purchasing the company.
- Report from the binary events committee.
- Opportunity to add stocks to our model portfolios (we have
been neglecting them!)
-- submitted by John Wagner