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URL:  http://boards.fool.com/quotseems-to-me-a-true-club-should-be-11403847.aspx

Subject:  Re: Club Philosophy Date:  10/21/1999  9:17 PM
Author:  Spyneyes Number:  3174 of 7260

"Seems to me, a true club should be more."
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You are correct.

Joining the National Association of Investor's Corp. (NAIC) and using it's tools comes in handy especially in evaluating a company for possible purchase. You shouldn't be purchasing stocks based on, as you described, "loose facts."

Education should be a part of your club's activities, both at your meetings and by taking advantage of the courses offered again, through the NAIC.

Your weekly meetings may be part of the "problem" as well. Our group meets, like most clubs, once a month. We have two hours together and it is a very rare occurence not to need every minute of that time. Our meetings are lively with a lot of debate and opinions being bantered about. It's not ALL business, but we try to keep on a prepared agenda.

In addition I wouldn't judge your early loses too harshly. Afterall, a month is of no consequence when it comes to investing. Otherwise you're only speculating.

My understanding is that it can take a club two years or more to show a profit. Our investment group managed positive numbers in a little less time, but we were prepared that it might take quite a while. Patience comes in handy in investing and especially when starting a club.

It's way too early to tell, but, I fear that unless you get some leadership pointing your club in the right direction, and invoking some interest, you'll fail as most clubs do, again within that first two years.

The lifeblood of a good investment club is committed and like-minded members. Having a core group willing to put forth some effort at making it a success is also a necessity. If you don't have this, your destined to failure as well.

If you're not familiar with the NAIC, see their web site at:

http://www.better-investing.org/

I hope only the best for your fledgling group. Should you have specific questions, this is the place to get some answers.

Good luck!

Rick
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