OIG General Body Meeting (03/28/2013)

The meeting started at 9:00pm.

Andrea went over the guidelines for the upcoming elections. Each Board member talked about her respective duties and responsibilities. If you are interested in running for a position on the Executive Board for the 2013-2014 year sign up using this form: https://docs.google.com/forms/d/159uAbYytH_icYPwYACaaklfg3K3wlj65IHSc68X998A/viewform before the 10th of April, 2013 at 5:00pm. All active members of OIG who will be at Bryn Mawr for the entire academic year are encouraged to run for a position.

Dingwei did the weekly market update. The S&P 500 index set an all-time closing high today (03/28). It pushed to record territory during midmorning trading; closing at a value of 1,569. It joins the Dow in recovering from all financial losses. This increase is a show of faith in the Fed.

Amazon is set to acquire Goodreads, a book site.

President Michael Dell of Dell Inc. met with Blackstone this week and there is talk of a buyout. We will have to wait and see where this goes!

Alisha did the weekly portfolio review. She talked about Cyclacel which has some drugs in the pipeline and if successful would lead to an appreciation of its stock. She also talked about Apple (AAPL) which we believe is undervalued right now at a price of about $460. This is low for a firm with a lot of cash and very impressive sales. Apple has sold over 500 million iOS devices and 40% of those devices were sold last year. It has experienced impressive revenue growth in China. We believe Apple is still very much a good investment and will be holding on to it for now.

The meeting ended at 10:00pm.