The Investment Club met on Friday, September 17th. The meeting consisted of a market update, and presentation of the IC target portfolio, with a buy pitch and sell pitch to begin this process.
There is a possibility of continued inflation and rising rates. Overseas, there are mixed signals remaining revolving around a potential recession in China. The UAW auto strike was presented by Co-President Alex Hunter. The UWA controls 150,000 auto workers, with ~9% participating in the initial strikes. The UAE is demanding pre-2008 benefits, a 40% pay increase, an end to tiered work, and job guarantees for EVs. Healthcare Analyst Grace Boghosian covered the S&P 500 index rebalance. The rebalance typically affects 0.8% of the index’s market capitalization.
Michael Malnati presented a sell pitch for Kyndryl, a Green Energy Information Tech Company. The club elected to sell the entire position of 20 shares for ~$320.
Concluding, the general body elected to buy into Disney after TMT Analyst Hank Skatoff and first-year club member Hasnat Aslam shared a detailed presentation including an analysis of the company. The board is discussing how much of Disney will be purchased for the portfolio.