The portfolio summary has been updated.
We now have more in cash to invest. Kudos to those members who are saving and investing regularly. With the recent market down trend, we should continue to purchase new shares. It’s always better to buy stocks when they are on sale.
Here are two proposals.
Proposal 1. Replace Federal Home Loan Management Corp (FNM) with Fifth Third Bank Corp (FITB), a well managed mid-west bank. Most of the literature about FITB has been very positive. See attached SSG and related reports (e.g., Morningstar, S&P and Value Line). We would sell FNM and apply the proceeds to FITB.
Proposal 2. Use the remaining funds to purchase additional shares of four of our existing stocks with the best prospects, considering both quality and projected return. We would add to our holdings of each of the following stocks: PFE, FISV, ACS and BBY. (Note there other strong candidates for reinvestment, including LOW, CBH and AMGN.)