Conduct of GIC Meetings
Most of our rules and constitution are derived from PROSHARE . Every member is issued a copy of these rules. An agenda is issued before each meeting and decisions are made only if there is a quorum, a minute taker, a formal motion, a seconder, and a vote. Every month we issue the minutes and our accountant publishes the price of our investment units. Our guiding principles are transparency and democracy. Every year the officers resign and elections are held.
1) We each pay £60 per month into a common investment fund. Our accountant calculates the unit cost and this is used to give the number of units which you have purchased. When you wish to leave, we pay you the current price per unit multiplied by the total number of units which you have purchased.
2) There is a one-off administration fee of £25 which is non-refundable.
Probably our most frequent investment strategy is value investment. We even have one member interested in technical analysis. Many of our members read extremely widely and have direct business experience. Some members analyse specific sectors of the market.
At our monthly meetings we discuss several different investment proposals and vote.
We are interested in potential members who fit the following criteria:
1) They must live in the Greater Glasgow area.
2) They must be prepared to regularly attend GIC meetings.
3) They must have an interest in buying and selling shares.
Over the last 2 years the price of our investment unit has risen 28%.
Our unofficial club slogan is: "Preserve Capital... And Wait For The Home Run." - Soros