Burlingame Rotary Club
Founded in 1925

Lunch Meetings are held every Wednesday for the Rotary year 2019 - 2020. 

Only a life lived for others is worth living.
Welcome President Cheri Carr
Rotary Club of Burlingame
High Gear
Wednesday, February 5th, 2020
President Cheri Carr called the meeting to order at 12:15
Pledge of Allegiance was made.                     The Invocation was given by  Paul Nieberding who found inspiration from St. Thomas Moore. ‘Dear Lord give me good digestion and something good to digest.’
Rotary Four-Way-Test was read by Michael Kimball.  Of the things we think, say or do:
Is it the TRUTH?
Is it FAIR to all concerned?
Will it be BENEFICIAL to all concerned?
Visiting Rotarians:  Rosemary Azem, San Mateo Rotary
Guests of the Club: Pete Wanger introduced his guests, Lois Cardinal, On the board of Stanford singles, and retired special education teacher. Pierre Bouquet introduced John Manning, a friend of the club, and Lyle Duncan. Cheryl Fama was delighted to welcome back prospective member Reed Thomspon, EVP Gateway Global, for his second visit.
Membership Survey:  Club leadership wants your feedback. President Cheri asked that members complete a questionnaire with ideas on what we are doing right could use improvement and suggestions.
Doug Person and Fritz Brauer reminded us of the upcoming “Fireside Chat” to be held at Joe La Mariana’s house 6 – 8 pm. All are welcome.
A reminder that next week's lunch meeting will be held at Burlingame High School and hosted by the Italian Club as a thank you to our club for supporting their Italian visitors.
Our own Cheryl Fama was excited to announce Peninsula Health Care District and Gatepath have formed a partnership to establish the first cooperative living homes in San Mateo County for adults with developmental disabilities. Gatepath director and Burlingame Rotary member, Brian Neider who was not present today, worked with Cheryl to put it together. It will provide 10 1-bedroom units for special needs adults. Outstanding job for an underserved section of our community by our Rotary members.
Fritz Brauner and Doug Person gave us an update on the date, literally. Today is National Chocolate Fondue Day, National Shower with a Friend Day, National Signing Day (sports), National weatherperson’s Day (have you hugged your weatherperson today?), and World Nutella Day! Wow, good to know (I think).
Today’s Speaker
After a little fellowship member Mike Horwitz introduced Jim Karel as the guest speaker for the day. Jim Karel will give us a financial update. James  F. Karel is president of Karel Capital, Inc., a Registered Investment company specializing in the management of equity and fixed income investment portfolios. Founded in 1989, Karel Capital Inc. is a fee-based only investment advisory company registered with the state of Washington. Prior to founding Karel Capital, Inc., Jim worked with national brokerage firms in the areas of portfolio management, investment advising, office management, and marketing. He also directed a national training center where he was responsible for the training and development of thousands of New York Stock Exchange registered representatives. Jim was previously on the Investment Advisory Board for the San Mateo Community College Foundation and served on the Opera Plus Development Board in Coeur d’Alene, Idaho. He has served as board president for Mobius Science Center in Spokane, WA, and now remains on the board of directors at large.  
Jim introduced his topic by reminding us that although Americans are all for America taking care of itself we are part of a planet and global technology. He discussed the low-interest rates and the national debt ($22 trillion and adding $1 trillion per year), consumer debt ($13-$14 trillion) and student loan debt ($1.5 -$1.7 if you count in private school loans) and 10% of student debt is currently in default. He explained that the recent tax overhaul has left corporations awash in cash which has enabled them to buy back their shares which exacerbate the earnings for investors. Apple purchased 20% of its shares back. Corporations are awash in debt because the interest rates are so low. The last time this happened was just before the crash of October, 19 29. Although he doesn’t see the same thing happening right now. He believes low-interest rates are not good for the economy. He suggested we take a look at what’s happening in China and Europe. Greece is ripe for investment. He told us that Warran Buffett’s group is sitting on $129 billion dollars of cash and cannot find good investments right now. He suggested reading: Ray Dalio’s Principles of Success; Seth Klarman, American billionaire investor, hedge fund manager, and author. He is a proponent of value investing and is chief executive and portfolio manager of the Baupost Group; and El-Erian, Allianz Chief economist and a broader thinker who looks at geo-political issues, human behavior and the weather when making an investment.
Jim is beginning to reduce his investments in the stock market. He likes gold as an investment, laddered CD’s, and small-cap growth funds. ). In the currency war, the Chinese seem to have backed off…for now, so we should be cautious. He doesn’t believe there will be a global recession but there are black swans everywhere (a black swan is an unknown unknown). Jim answered some interesting questions from club members.
President Cheri presented a certificate to Jim Karel representing 5 Polio inoculations to be made in his name as a thank you for being today’s speaker.
President Cheri adjourned the meeting at 1:30 pm
Feb 12, 2020 12:15 PM
Italian Club Update
Feb 19, 2020 12:15 PM
Peninsula Humane Society & SPCA
Mar 18, 2020 12:15 PM
Economic Outlook
View entire list
Member Birthdays
Mike Horwitz
February 3
Cheryl Fama
February 14
Paul Nieberding
February 22
Rosemary Rayburn
February 23
Marilyn Orr
Rich Orr
February 17
Russell Hampton
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