Today's Events:

President Mike Mills presiding

We welcome our Guest:

Daniel Berger (Ellen)

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

Wednesday, October 31, 2007

Safe Streets Halloween @ 4pm – 6pm
Sponsored by the City of South Miami 
Meet at 3:45p.m. on Sunset Drive to help
with pedestrian traffic and keeping children safe

Monday, November 5, 2007 @ 6 p.m.

Saturday, December 8, 2007  

Our Holiday Party will be at Ed Fischer’s home.

LINDA KAPLAN, SERVICE PROJECTS CHAIR:

Saturday, November 03, 2007
Hands On Miami Day 2007

Impact:
Volunteers will help at 18 “mini-extreme makeover” schools as well taking care of our endangered local ecosystem at 7 environmental projects throughout Miami-Dade County.

All volunteers receive

Celebrate!
Upon completion of the day’s volunteer service projects volunteers will head to Finnegan’s on the River for food and fun! Party afterwards at Finnegan’s on the River.

Pick up a registration brochure at your local Starbucks or download one at  http://www.handsonmiami.org/AboutUs/index.php/HOMDay2007/HOMD_brochure.pdf

With 4,000 volunteers expected, Hands on Miami Day is the largest single day of service in the county. It provides an easy way for our club to participate in commuinty service.  On November 3rd Linda will be a service project manager overseeing the clean-up of the Spoil Islands. 

BILL ENRIGHT, SERVICE PROJECTS COORDINATOR:

Saturday, November 17, 2007
The Falls’ 11th Annual Holiday Parade
Miracle on 136th Street Parade!
Volunteer orientation on Saturday,  Nov 10, 2007 10am-11am

The official kick-off to the holiday season at The Falls with Santa's magical arrival. The parade will take place at 11:30am. However, volunteers MUST attend an orientation on Saturday, November 10th at 10:00am if they wish to participate in this great community event.

The DEADLINE to sign-up and participate in the orientation/event is Wednesday, November 7th 2007.

Volunteers are needed to support parade logistics such as:
-Pacers to keep the parade moving
-Greet Miami-Dade dignitaries
-Coordinate parade’s floats
-Manage booths (including HOM’s)
-Distribute booklets

Volunteers are required to wear comfortable shoes, as they will do a lot of walking. We will also provide you with Hands on Miami volunteer t-shirt.

For more information please contact Lucia Goyen at 305-646-7462/ Lucia@handsonmiami.org

Saturday & Sunday, FEBRUARY 23 – 24, 2008

South Miami Rotary Art Festival

www.southmiamiartfest.com

A new parking garage will be opened on November 15th
which will alleviate parking congestion.  73rd Street - behind Casa Larios

Visit the club’s NEW MYSPACE page: 

www.myspace.com/southmiamirotaryclub

Friday, November 7, 2007

Rockettes

Our district is partnering with Special Olympics to raise funds for The Rotary Foundation. Please help out by spreading the word about the special Rockettes event in Ft. Lauderdale, benefiting Special Olympics and TRF.

Details regarding this event can be found on the district web site: http://rotary6990.org

Yours in Rotary Service,
Lan Nghiem-Phu, DCO
Email: lannp@macsystems. com
Home Phone: 305-665-3729 / Office Phone: 305-670-3009

Hampton Booker:
Spare change fundraiser:

Toss your coins into the jug at the Sgt. Of Arms table.  Make a wish!!!

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

DID YOU MISS A MEETING ‘CAUSE YOU WERE AWAY?

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

Visit www.rotary6990.org to find a club to make up an absence.
Attendance credit for a 30-minute interactive club Web site activity offers an alternative to making up a meeting at another club. To earn this credit, Rotarians log on to the site, read up on a range of subjects, post comments, & submit a form to the club secretary.

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

NOTIFY DOREEN REITNAUER, SECRETARY, OF ALL MAKE-UPS:   dhiker217@aol.com

Programming Chair 2007-08:  Roy Gonas
Members responsible for programming by month:
November – Suzanne
December – Bill
January – open
February – Wendy
March – Otto         
April – Ann   
May – Ed

2007-08 RCSM OFFICERS:

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

• 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 effort

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

Fernando X. Donarye, Founder and Portfolio Manager

&

Brian Straile, Investment Analyst

Inca Investments

9350 South Dixie Hwy. Ste. #1470
Miami, FL  33156

Fernando X. Donayre CFA, CPA is the Chief Investment Officer of INCA Investments, LLC. Before founding INCA Investments in 2004,  INCA Investments has approximately US $300 million in assets under management in long biased and hedged mandates

Mr. Donayre was employed by Zephyr Management, L.P. from 1996 through 2003. At Zephyr, he was the sole portfolio manager for the Zephyr Latin America Fund since its inception in 1997 and continues to manage the investment strategy of the Fund via INCA’s sub-advisory role. The Zephyr Latin America Fund is consistently ranked by S&P Micropal as one of the top performing Latin American Equity Funds for long term periods. From 1994 through 1996, Mr. Donayre was the Director of Research at Latinvest / Globalvest Management, which at the time was the largest Latin American specialty investment manager in the world. From 1998 through 1994 he was in charge of international and emerging market equity investments for the Investments Department of FPL Group.

A native of Peru, he has also lived in the Caribbean and Mexico for six years. He is a Chartered Financial Analyst, a Certified Public Accountant and received his M.B.A. in International Business from the University of Florida. He is a long-time student of the Latin America markets and has published a variety of articles on the subject including “Investing in Latin America: Good Idea, Bad Time?” in the Journal of Investments (Summer 1994) and “Latin America: History Repeats?” in Benefits and Pension Monitor (Summer 1995).

Brian Straile has a FIU Graduate Degree in Finance from FIU

Donayre’s investment management company is for institutions interested in stock markets in Latin American. 
A Hedge Fund – get an incentive and a mgt fee for any investment. 

This 6-employee Miami-based company (1 portfolio manager, 4 analysts, 1 accountant) buys stocks in a specific niche part of the world  and holds them. 

All of the employees are regional specialists and have ties with Latin America which has history of rocky economics.  The countries mainly dealt with are:  Brazil, Mexico Chile, Argentina, Peru, Columbia – with majority of investments with Brazil, Chile and Mexico. They compare markets with a broader scope than those companies that deal with investments in just one country. 

For example:  Argentina has 9.8% inflation in 2006.  Artificial capitol restrictions and non-pragmatic policies along with difficulty in getting money out of the country. Price controls, export restrictions to force the inflation down instead of letting the open marketplace work out the problem.

The reform movements of the 1980’s military dictatorships have turned into democratic regimes that are more accountable to the public.  Anti-inflationary policies, privatization of telecommunications, media, etc.

Re-injecting capital into an industry is necessary to keep it up-to-date.  Other factors for a healthy economy include the government controlling debt, opening its borders to trade, and promoting competition to reduce waste. 

For the last five to seven, each of the Latin American countries that they deal with have experienced a drop to 25% external debt as a % of GDP.  This allows for a better fiscal balanced budget for each economy

Implementing shorting strategies to reduce volatility and risk since 1990

RECOMMENDATIONS:
1.      Latin American banks are a long term growth story – 20% return on equity.  High rates of growth due to pent up demand. Now serving the middle class.

2.      A Mexican Home Builder called Consorcio ARA.  The area is under-built with families sharing residences.  Banks were unwilling to lend in the past.  Now interest rates are low. 

Brazil has controlled its hyper inflation.  Ex. Brazil had up to 2,500% inflation but it’s now being controlled for over a decade.  Spending was rampant due to lack of public trust in the currency. Merchants were not bothering to put price tags on merchandise as prices were jumping radically. 

Why is it cheaper to ride a bus rather than a taxi in Latin America?  Because with a taxi you pay after the ride and the bus you pay before the ride.

Performance of the Latin American Equity Markets kept foreign investors out of the country and the base of the markets very low.   The current commodities boom has been beneficial for Latin America.

Panama and Costa Rica don’t have the liquidity and are considered pioneer markets.  There is volatility to get investment money out of the country.  Their stock market is not developed but their debt market is. 

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