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Minneapolis Breakfast Club Newsletter June 17, 2020

Early Birds: We had 28 participants online today.

Guests: John Quincy, Solomon Strategies and Rob Alexander, Select Communications were visitors today.

Honorary Members: Karen Holtmeier, Ron Britz, Mark Simon, Dick Nelson, and Martin Peyer were online today.

President Chuck Shreffler opened the meeting by asking for a moment of silence and he almost had a joke.

Announcements

  1. We need a craft speaker for June 24.
  2. No meeting on July 1.
  3. We need craft speakers for July dates.
  4. Next week will be Chuck Shreffler’s last as president and in July Jim Erickson will take over.
  5. Edina Country Club will be open in July with Social distancing guidelines and plated meals.
  6. Mike Palm still has an August date reserved for a boat cruise. We will be socially distant by swimming alongside the boat.
  7. We did an instant poll and 70% of those online today would meet in person for breakfast on July 8, 10% said no and 20% thought it was still too early.

Business Updates

Robbie Danko told us that David Goodwyne’s memorial service is planned for Saturday.

Topic: David Goodwyne Memorial Service

Time: Jun 20, 2020 10:30 AM Central Time for visitation, Memorial Service at 11:00 AM CST

To join Zoom Meeting:
Meeting ID: 857 9110 7825
Password: 542152

Mark Arnold said Continental Diamond is open for normal business hours with appointments only for social distancing and employees wear masks.

Business Exchange

Jim Christianson, Dick Anderson, and Robert Sandberg all had something to share today.

Craft Talk

Tony Rubin of Wells Fargo Advisors gave the talk today. His family is getting along throughout the pandemic. While working from home and remotely is fine, Tony misses the vibe of being around people.

Tony gave a wide-ranging talk on the markets and how they are affected by COVID-19, Elections, International markets, interest rates, debt, oil, etc.

March 23 was the low point of the US stock Market and it was the fastest drop in history to get there and likewise we have endured the fastest recovery as well. Most large investors are expecting a “V” shaped recovery, but we are going through a period of volatility due to economic news and political news on a daily, weekly basis.

Tony expects that we will end the year with the S&P about 3200, interest rates still low, oil at $40 per barrel, and another stimulus program but not with a trillion $ price tag.

Tony took a lot of questions and as far as market opportunities, Tony thought the healthcare sector will be one. Smaller cap companies, and companies that are restructuring their debt with lower interest rates will be other opportunities.

Call/Email Tony to register and have a private conversation about your individual needs. Tony Rubin at tony.rubin@wellsfargoadvisors.com or 612-810-1474.

You can give feedback on this meeting (and topics for future meetings) to Chuck Shreffler at Chuck@chucklaw.com or 612-872-8000 by voice or text.

Looking ahead

June 24 – TBD

July 1 – No meeting

July 8- Solomon Strategies at ECC

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