No. of Recommendations: 7
while we're doing this as a group, the real point is for each of us to improve our skills as individuals, and that will probably only come through practice. Maybe a good analogy would be all of us trying to learn to play the guitar and working on some new technique or song each week, and then getting together to practice, trade tips, have fun, and stay motivated. If you never actually touch a guitar, you're probably not going to learn to play one regardless of how many sessions you attend

Hey Neil,

You have a lot of enthusiasm and such a positive outlook that chances are you can make this work for everyone. Back in the day there were various attempts like this on the Foolish Collective board, but most of them fizzled out.

I agree with Chris and others that you'll get more participation and it will be more fun if the business we look at is one that we might actually invest in, rather than one picked at random.

Also, to improve skills it might be helpful to focus on a theme each week. Using your guitar analogy, rather than everyone trying to play "Stairway to Heaven" maybe focus on the chords or picking or vibrato in "Stairway to Heaven" -- try to develop one technique each week. To translate that to investing, maybe the first week the emphasis is on the Balance Sheet, the following week on ownership and compensation, the next week focus on cash flow, and so on -- just using these as examples, not suggesting you use these actual ones.

With ITG there was a whole backstory about an activist investor and how management responded and about the capital allocation decisions that resulted. That can take several hours alone to investigate. Analyzing a business is a big chunk, so breaking it into pieces makes it more digestible. The skills developed each week will eventually snowball into a handy toolkit.

Thanks,
Ears
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