This week’s update is going to be more administratively focused than stock updates and portfolio performance. The overall portfolio doing pretty well since last week the value is up nearly 1.5% or $1000. Of course this is lead by our two best performers P&G and Mastercard. But actually since last week’s review every single security is up a couple percentage points except Tilray.
I’ve spent the better part of the last two weeks discussing with Charles and the CEO of Voleo about different scenarios and controls that can be put into place so that all three groups are better managed by me and Charles. The first implementation will be my addition to all three groups. Thomas(CEO Of Voleo) will make sure I can view conversations and movements in all three groups by the end of the week. We also toyed with the idea of only Charles and I being the ones to propose trades but after discussing with Thomas there is some concerns with doing that we could run into some regulatory problems appearing to operate like a fund unintentionally. So here is what will be implemented:
Voting Period – A 48hrs window be imposed on each trade proposal. There will be no extension or delay this window will be a hard deadline.
Quorum – In whatever group a trade is propose 25% of members will be considered a quorum. This is how many people must have voted during the voting period for it to be considered valid upon completion of the Voting Period. So in a group of 100 that would mean 25 members would need to vote for it to be considered valid. Now, why 25% instead of 50% that was base off my analysis of the club interaction. A good portion of our members operation as “silent partners” they invest but don’t necessarily vote or join in on the discussion, which is completely fine. But I’m not going to hope up club business with an unreasonable Quorum threshold. This doesn’t mean only 25 members can vote the more the merrier but at least 25 must vote for business to be conducted.
Proposal Majority – 51% decision either way will be considered the simple majority. This is based upon the total membership during the voting period, and of those who voted upon closing of the voting period. If your quorum was the default of 25 people, and for sake of example 13 voted yes and 12 members voted no at the end of the voting period, there is a clear majority of quorum so it would then become an order.
With these new mechanism my hope is that there can be a sense of more cohesion between the three groups, like one band and one sound. That we are separated in three groups, that is merely just a platform design not that we are three separate investing groups. And perhaps this won’t be for too much longer, my understanding is that Voleo is working to make group sizes bigger, which would be perfect for us. I like being able to see this family all under one house again.
I’ll keep you posted on further developments and changes as they come along.
As promised I have compiled a survey monkey survey to help in my adjustment strategy formulation for the second half of the year. Your responses will he used in a discussion between myself and Charles in regards to how we should proceed and what the overall direction will be. The survey will only be open until Friday so please I need ALL membership support and participation. Please find the link below.
Jamaal W Vetose
Todd Capital Investments