Today's Events:

President Mike Mills presiding

We welcome all of our visitors:

Ed Kitchen – a very familiar face!!
 Alfredo Montero, Patricia Clackley ( Belmont University), & Donna Fales  ( Roy)

* * * A N N O U N C E M E N T S  * * *

Donna Gaines: 

Friday, April 11^th @ 7:00 pm

A Barbeque Party

Ed Fischer’s Home

10401 SW 82 Ct

Free for members / $15 each guest

RSVP to Donna 305-665-6390 by April 1^st

Rotary District 6990 Assembly

Saturday, April 1, 2008

Signature Gardens, Kendall

HOW TO REGISTER:  See instructions in the 3/11/08 newsletter

Ed Fischer:

Kathy Miller: 

SAVE THE DATE:

Saturday , April 26, 2008

Annual Rebuilding Together Volunteer Day

in Coconut Grove

http://www.rebuildingtogethermiami.org/index.html

Why are these services
needed?

The number of low-income homeowners is expected to grow 30% by the year 2010 from the current level of 22 million families to 28.5 million. More and more families are placed in the position of choosing between vital necessities, such as food or medicine, or a roof that does not leak. Rebuilding Together works to ensure that as many of those families as possible do not have to make these difficult choices.

March 25, 2008 | News covering the UN and the world

Polio eradicated froSomalia, WHO says
Polio appears to have been wiped out from Somalia , the World Health Organization and its partners in the fight against the paralyzing disease said Monday. The "landmark victory" was the result of thousands of health workers and volunteers vaccinating more than 1.8 million Somali children under five years old, said the Global Polio Eradication Initiative, which also includes UNICEF, Rotary International and the Centers for Disease Control and Prevention.

http://www.who.int/mediacentre/news/releases/2008/pr09/en

SOUTH MIAMI ROTARY ARTS FESTIVAL

February 21 – 22, 2009

www.southmiamiartfest.com  (official site)

 www.myspace.com/southmiamiartfest (unofficial site)

http://en.wikipedia.org/wiki/South_Miami_Rotary_Art_Festival (wiki encyclopedia article)

$$$ PRINTER CARTRIDGES FUNDRAISER $$$

We are accepting empty inkjet cartridges for recycling.    Bring them to the meetings or take a postage-paid plastic envelop home –  ask Mike Mills

Recycle ~ Reuse ~ Renew

Our club goal is 100% Attendance!

If you miss a meeting, it can be made-up within 2 weeks, before or after, of the missed meeting date.

For online make-ups:

http://www.rotary.org/newsroom/downloadcenter/pdfs/eclub_list.pdf

For make-ups anywhere around the world when traveling internationally: http://rotary.org/support/clubs/index.html

2007-08 RCSM OFFICERS:

President:  Michael Mills
millsmike@aol.com

President Elect:  Bill Enright

bill@handsonmiami.org

Vice President: Linda Kaplan

lk@lindakaplan.com

Secretary:  Doreen Reitnauer

dhiker217@aol.com

Treasurer: David Jacobs

david@jnccpas.com

Sergeant at Arms:  Hampton Booker

Hg262@bellsouth.net

To send an E-mail to the Rotary Club of South Miami’s Board of Directors, board@southmiamirotary.org

South Miami Rotary Club:
www.southmiamirotary.org

Rotary District 6990:

www.rotary6990.org

World Organization:
www.rotary.org

Mission Statement

The mission of Rotary International, a worldwide association of Rotary clubs, is to provide service to others, to promote high ethical standards, and to advance world understanding, goodwill, and peace through its fellowship of business, professional, and community leaders.

THE 4-WAY TEST OF THE THINGS WE THINK, SAY OR DO:   

Benefits of Being A Rotarian (Membership)
Rotary membership provides the opportunity to:

¨       Become connected to your community.

¨       Work with others in addressing community needs.

¨       Interact with other professionals in your community;
assist with RI's international humanitarian service efforts.

¨       Establish contacts with an international network of professionals.

¨       Develop leadership skills.  Involve family in promoting service efforts.

Renewing or Joining
To Renew ($250) or to become a New Member ($300) contact

Asaad Massoud, at www.racharters.com

Fundraisers
Interested in putting together a fundraiser? Contact Club Service Chair Linda Kaplan at lindakaplan@lk.com

March Programming Committee Member Otto Fuentes introduced our speaker by discussing the volatility of the marketplace:  one day up and another day down.  Gold breaks the $1,000 barrier.  Inflation worries, how to retire on time, how to make your money last your lifetime after you retire? 

Today we hear from a man who has spent a lifetime trying to master these problems and who will discuss how to protect your interests!   His extraordinary career in the finance industry, which included being a Board of Director of Credit Swiss in Zurich prior to retiring, will be tied to today’s events.

Manfred Adami, International Investor 

Mr. Adami  is married with 4 children.   He attained both an MBA and a PhD from Hamburg University. He was a Fulbright scholar who also spent two years in the navy riding PT boats in the Baltic in winter. He started his career joining a London firm for 10 years as an investment manager.  He spent 15 years with Credit Swiss and years more on their investment board.  As a retired international investments advisor, he now spends time residing in KYB and London. 

There are two things that are more difficult than making a  speech: climbing a wall which is leaning toward you and kissing a girl who is leaning away from you.

-Winston Churchill

Today’s banking crisis is similar to the one experienced in the 1930’s.  He’s been in the business for 40 years and has never seen the volatility which began in August 2007.  The head of Citibank, the head of Merrill Lynch have all had to go…endangering the whole world’s financial markets.  The reason is that regulations are not globally determined nor enforced.

He is a money manager, not a banker, since leaving his academic career.  He’s been Involved with pension funds, US endowments, money market funds and  portfolios for individuals and institutions. 

The Germans in the 1970’s were committed to bonds whereas UK and US customers wanted equities.  In 1972 and onwards England experienced a bear market similar to the depression.  A 550 index in 1972 fell to 146 in 1/1975.  Investors lost 85% of the capital if they invested and moved their money out as it bottomed out. 

There was a huge and sudden rebound in 1/75 and his clients had to be fully invested in a few days to stay up with the index. 

Some investors sought out hiding places such as the gold markets.  The Rothschilds stayed stuck to this commodity and they did not trade out when the market rallied and it devastated them.

His most exotic client: The Central Bank of Papua New Guinea – owners of a copper mine. 

A wealthy European family needed an investment advisory for a $10 billion family company.  He compiled an investment portfolio along with finding alternative investments and specialists: hedge funds, agricultural, art, oil, gas, drilling partnerships, etc.

He retired in 1997 but still remains active in a few family offices. 

Lessons taken away from investing other people’s money: 

1) stay hungry,

2)  quit if you are not actively involved in tracking the performing indexes,

3)  don’t confuse brains with a bull market – tide goes out you’ll find out who’s swimming naked (Warren Buffet)

4)  stay with equities,

5) buying is much easier than sellign6)beware of small caps

6) stick to quality

7) stick to things you understand

8)  buy bonds, small caps to the experts

9) stick to stocks, close end funds, bonds

10) read the Economist, WSJ, keep up with the news,

11) use common sense

12) stay humble. 

Crises happen in capitalism societies in cycles.  “Hog cycles” fluctuate 3-4 years. It takes that many years to raise a hog.  When the price is up all farmers jump on the wagon to raise hogs causing the market prices to drop because there are too many on the market at the same time.  Then they stop raising hogs.  There aren’t enough to meet demand.  Prices go up.

Yesterday: Dow up 157 points
Today: Dow down 67 points before lunch
He still retains a chunk of stock in Credit Swiss – 98 high, but he is hanging on when it dropped: yesterday 47, today 51

UBS – fell to a low of 29.  It is a very well run company that may rally. 

Cataclysmic near bankruptcy of Bear Sterns bailed out.

TIP:

The typical cost for running a mutual fund is 1.27 % - the avg. expense ratio 0.27% is Vanguard’s expense ratio.  They keep the cost of their products down.

Click on our generous sponsor's business cards to visit
their website: