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Author: Garbagecop Two stars, 250 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 7258  
Subject: Re: Pi Beta Online Investment Club Date: 11/23/2001 8:48 PM
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Sorry Renli,

But I'd recommend to anyone reading this thread, especially if you're new, that you proceed with great caution. Make sure that you thoroughly investigate any club before you join; make sure their investing strategy and risk tolerance matches yours; and check with either the NAIC (www.better-investing.org) or the American Association of Individual Investors (www.aaii.com) to make sure you can be a legal partner without contributing financially, or being liable for losses.

Everyone has a new strategy today. But no one seems to be backtesting far enough back to cover the last recession! And with all the analysts in the world, I highly doubt that there's anything new.

Renli, maybe you could share with this board your age, and how long you've been investing. Were you in the market in 1972-1974? Were you in the market in 1990-1992? Are you in the financial planning business? Or do you have some type of degree in finance that would cause you to be interested in developing stock strategies? Why are you reaching out to strangers to start an online club? Do you not live in an area where you can gather enough friends or family to start a regular club? Have you tried long-term growth or value investing? For longer than a year? Longer than 5 years?

Many of the successful online clubs today started because the members were first family, friends or aquaintences. Others joined because they are friends with a member.

I think you'll do better if you type of a thoughtful letter all about your club, your strategy, how it will function, what communications you will use, the costs, the accounting methods, etc. It's called a New Member Prospectus. Then, post it somewhere where people can read it. Do your due diligence so others can do theirs.

Lynn
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