The meeting started at 9:10 pm.
Kathy did a quick market update. Snap Chat turned down offer of acquisition by Facebook. In international arena, Japan posted a higher than average trade surplus for September, which led to the appreciation of Yen. China concluded its political meeting-Third Plenum- on Tuesday. It decided to cut down the growth rate to 7% to focus more on sustainable outcome. There was a good news on the domestic side as the jobs in US increased by 204,000 in October.
After the market update, Laura, one of the members of Portfolio Management Team, presented a stock pitch about Constellation Brands. Constellation Brands lies in consumer goods sector and falls under Beverages industry. It produces and distributes branded wines and spirits and is the marketer of imported beers. It had the P/E ratio of 7-9 and Earnings per Share was $8-9. The final decision about its purchase will be taken by the Portfolio Management team.
Then, we watched Shark Tank video, which gave us insights about stock pitches.
The meeting ended at 9:45 pm. See you all again next Wednesday at Taylor G!