ANNUAL REPORT 2012 - WBFN

International Cultural GroupThe International Cultural Group meets whenever an educational or culturally interestingplace, activity or event is identified in the greater DC area. There are no fixed datesfor meetings and the number of events per year is also flexible.During the past year, the events were:• A visit to the Hillwood Estate, Museum and Gardens (May)• A tour of the Hillsborough wine-making facility (October)Investment ClubThe Wandering Winners Investment Club (WWIC) was founded in June 2001 by 25WBG spouses, all WBFN Financial Literacy students taught by Cary Clark. Most newmembers since have been graduates of the same courses. WWIC provides weekly opportunitiesto further financial awareness, develop investment skills, and enhance friendships.Members of the WWIC own a joint portfolio of securities, governed by a set of bylaws(Partnership Agreements) managed by elected officers. WWIC is registered with the NationalAssociation of Investors Corporation (NAIC), which provides information, networkingopportunities, and training. WWIC works with a broker and holds weekly studysessions for interested members to research new securities, discuss weeding and feeding theportfolio, and learn together. Decision meetings are held once a month on second Fridaysfrom 10am to 12pm at the WBFN office with up to 25 partners present.In 2011-2012, though the world economy fared slightly better than the year before, it wasstill a challenging year. Yet the WWIC was fortunate to have had a winning year, with itsportfolio beating the S&P500 once again. This was achieved by relying on the lessons learnedfrom the 2008 recession: use the down market for hidden gems; conduct broad sector studiesfor information; pay attention to defensive stocks that can weather recessions, and investin companies that do business in countries that have a relatively robust economy. WWICapproved a total of 20 securities transactions this year, including purchases and sales, with afocus on the financials, energy and beverages sectors.WWIC members and guests organized and/or attended the following educational activitiesin FY12:• Seminars: “Understanding Balance Sheets and Ratios” (in-house by member, PatriciaCaicedo); “The China Conundrum” (World Bank seminar); “Market Overview andPortfolio Review” (Mr. Ozgur Karaosmanoglu and Mr. Aydin Tuncer, Vice Presidentsand Investment Wealth Management Specialists at the Global Wealth ManagementGroup Raymond James and Associates: “Economic Outlook for 2011”)• NAIC: WWIC portfolio review, networking and exchange with other NAIC clubs• Book Review: “The Big Short” (in-house by member, Jeanne Haji)• 10th Anniversary Keynote Address by Cary Clark.76 77