Our club of 50 plus members is made up of only residents who live in our senior condo development. We meet monthly in our clubhouse, with weekly research meetings. We average about 21 people at the monthly. Only a handful actually contribute to discussions. Most just pay their dues and don't show up.
Sent via the Samsung GALAXY S(R)4, an AT&T 4G LTE smartphone
-------- Original message --------
From: Peg Wentworth
Date:06/25/2014 12:36 PM (GMT-05:00)
To: club_cafe@bivio.com
Subject: Re: [club_cafe] long standing clubs
Hi,
Our club is based in PA, which limits the size to 20 members. At one time
we had 20 members but found it difficult to have time for everyone to be heard
at the meetings. We liked it best at 12-14 members, easy to schedule meetings at
homes of members, enough people to be "stockers" following a stock for earnings,
etc.
We now have 8 members but have plans to expand to 10 as soon as two friends
are done with projects. We started in 1998, have 19 stocks (too many but most
are real winners and we hate to sell them) and each unit is $80.50.
Wondering where the club with 50 members meets and how they have time for
all members to be active and involved.
Hello and congratulations to all of you who have been in longstanding
clubs. My question is: How regularly do you meet? and what do you do when
no one shows for several meetings in a row?
On Friday 20/06/2014 at 11:39 am, Susan Maciolek wrote:
BCI founded 1994, 16 members, 16 stocks, unit valuation
=$80.23
ABODI Investment Club (aka A Bunch Of Dummies Investing) started in
2008 with 8 members and now we have 16 members and 27 stocks. Total Number
of Valuation Units to Date 2,454.290918 Value of One Unit
$26.750544 .
John
Rice
On Friday, June 20, 2014 6:24 AM, Laurie Frederiksen <laurie@bivio.biz>
wrote:
Hi Russell,
I am in two clubs. One began in 1998. It has 7
members, 13 stocks and a NAV of $33.16.
The other began in
2009. It has 8 members, 8 stocks and a NAV of
$17.45
Fun question!
Laurie Frederiksen Invest with your friends! www.bivio.com
Our club of 50 plus members is made up of only residents who live in our
senior condo development. We meet monthly in our clubhouse, with weekly research
meetings. We average about 21 people at the monthly. Only a handful
actually contribute to discussions. Most just pay their dues and don't
show up.
Sent via the Samsung GALAXY S(R)4, an
AT&T 4G LTE smartphone
-------- Original message --------
From: Peg Wentworth
Date:06/25/2014 12:36 PM (GMT-05:00)
To: club_cafe@bivio.com
Subject: Re: [club_cafe] long standing clubs
Hi,
Our club is based in PA, which limits the size to 20 members. At one time
we had 20 members but found it difficult to have time for everyone to be heard
at the meetings. We liked it best at 12-14 members, easy to schedule meetings at
homes of members, enough people to be "stockers" following a stock for earnings,
etc.
We now have 8 members but have plans to expand to 10 as soon as two friends
are done with projects. We started in 1998, have 19 stocks (too many but most
are real winners and we hate to sell them) and each unit is $80.50.
Wondering where the club with 50 members meets and how they have time for
all members to be active and involved.
Hello and congratulations to all of you who have been in longstanding
clubs. My question is: How regularly do you meet? and what do you do when
no one shows for several meetings in a row?
On Friday 20/06/2014 at 11:39 am, Susan Maciolek wrote:
BCI founded 1994, 16 members, 16 stocks, unit valuation
=$80.23
ABODI Investment Club (aka A Bunch Of Dummies Investing) started in
2008 with 8 members and now we have 16 members and 27 stocks. Total Number
of Valuation Units to Date 2,454.290918 Value of One Unit
$26.750544 .
John
Rice
On Friday, June 20, 2014 6:24 AM, Laurie Frederiksen <laurie@bivio.biz>
wrote:
Hi Russell,
I am in two clubs. One began in 1998. It has 7
members, 13 stocks and a NAV of $33.16.
The other began in
2009. It has 8 members, 8 stocks and a NAV of
$17.45
Fun question!
Laurie Frederiksen Invest with your friends! www.bivio.com
Butterflies are
self-propelled flowers. - Robert A Heinlein
ira smilovitz on
I'm not sure what you are referring to, but the IRS couldn't care less about how a club makes decisions. The SEC, however, could be concerned. The issue usually isn't how many people (don't) make the decisions, but the rights of the members to contribute to the decision process.
Ira Smilovitz
On Wed, Jun 25, 2014 at 10:01 PM, Peg Wentworth <pegw@comcast.net> wrote:
Rip or Ira might know for sure but I know about one Florida club with just
a few members making decisions that ran afoul of the IRS. Food for
thought.
Our club of 50 plus members is made up of only residents who live in our
senior condo development. We meet monthly in our clubhouse, with weekly research
meetings. We average about 21 people at the monthly. Only a handful
actually contribute to discussions. Most just pay their dues and don't
show up.
Sent via the Samsung GALAXY S(R)4, an
AT&T 4G LTE smartphone
Our club is based in PA, which limits the size to 20 members. At one time
we had 20 members but found it difficult to have time for everyone to be heard
at the meetings. We liked it best at 12-14 members, easy to schedule meetings at
homes of members, enough people to be "stockers" following a stock for earnings,
etc.
We now have 8 members but have plans to expand to 10 as soon as two friends
are done with projects. We started in 1998, have 19 stocks (too many but most
are real winners and we hate to sell them) and each unit is $80.50.
Wondering where the club with 50 members meets and how they have time for
all members to be active and involved.
Hello and congratulations to all of you who have been in longstanding
clubs. My question is: How regularly do you meet? and what do you do when
no one shows for several meetings in a row?
On Friday 20/06/2014 at 11:39 am, Susan Maciolek wrote:
BCI founded 1994, 16 members, 16 stocks, unit valuation
=$80.23
ABODI Investment Club (aka A Bunch Of Dummies Investing) started in
2008 with 8 members and now we have 16 members and 27 stocks. Total Number
of Valuation Units to Date 2,454.290918 Value of One Unit
$26.750544 .
John
Rice
On Friday, June 20, 2014 6:24 AM, Laurie Frederiksen <laurie@bivio.biz>
wrote:
Hi Russell,
I am in two clubs. One began in 1998. It has 7
members, 13 stocks and a NAV of $33.16.
The other began in
2009. It has 8 members, 8 stocks and a NAV of
$17.45
Fun question!
Laurie Frederiksen Invest with your friends! www.bivio.com
Butterflies are
self-propelled flowers. - Robert A Heinlein
Peg Wentworth on
Ira,
Thanks for the clarification. I knew the club had to revise how it
made decisions based on a ruling from some federal agency. The ruling was that
they were acting more like portfolio managers than an investment club. They had
30 members, most of whom were snowbirds who attended about 2 meetings a year.
This was before Skype or other methods clubs can use to keep absent members in
the loop at meetings so they can participate.
I'm not sure what you are referring to, but the IRS couldn't care
less about how a club makes decisions. The SEC, however, could be concerned. The
issue usually isn't how many people (don't) make the decisions, but the rights
of the members to contribute to the decision process.
Ira Smilovitz
On Wed, Jun 25, 2014 at 10:01 PM, Peg Wentworth <pegw@comcast.net> wrote:
Rip or Ira might know for sure but I know about one Florida club with
just a few members making decisions that ran afoul of the IRS. Food for
thought.
Our club of 50 plus members is made up of only residents who live in our
senior condo development. We meet monthly in our clubhouse, with weekly
research meetings. We average about 21 people at the monthly. Only a
handful actually contribute to discussions. Most just pay their dues and
don't show up.
Sent via the Samsung GALAXY S(R)4,
an AT&T 4G LTE smartphone
Our club is based in PA, which limits the size to 20 members. At one time
we had 20 members but found it difficult to have time for everyone to be heard
at the meetings. We liked it best at 12-14 members, easy to schedule meetings
at homes of members, enough people to be "stockers" following a stock for
earnings, etc.
We now have 8 members but have plans to expand to 10 as soon as two
friends are done with projects. We started in 1998, have 19 stocks (too many
but most are real winners and we hate to sell them) and each unit is
$80.50.
Wondering where the club with 50 members meets and how they have time for
all members to be active and involved.
Hello and congratulations to all of you who have been in longstanding
clubs. My question is: How regularly do you meet? and what do you do
when no one shows for several meetings in a row?
On Friday 20/06/2014 at 11:39 am, Susan Maciolek wrote:
BCI founded 1994, 16 members, 16 stocks, unit valuation
=$80.23
ABODI Investment Club (aka A Bunch Of Dummies Investing) started in
2008 with 8 members and now we have 16 members and 27 stocks. Total Number
of Valuation Units to Date 2,454.290918 Value of One Unit
$26.750544 .
John
Rice
On Friday, June 20, 2014 6:24 AM, Laurie Frederiksen <laurie@bivio.biz>
wrote:
Hi Russell,
I am in two clubs. One began in 1998. It has 7
members, 13 stocks and a NAV of $33.16.
The other began in
2009. It has 8 members, 8 stocks and a NAV of
$17.45
Fun question!
Laurie Frederiksen Invest with your friends! www.bivio.com
Butterflies are
self-propelled flowers. - Robert A Heinlein
Jimmy Dickerson on
Not just to satisfy the law, but to make sure that our members were active in the club, we included the following in our ByLaws as an option to remove a member:
On Jun 26, 2014, at 9:48 AM, "Peg Wentworth" <pegw@comcast.net> wrote:
Ira,
Thanks for the clarification. I knew the club had to revise how it
made decisions based on a ruling from some federal agency. The ruling was that
they were acting more like portfolio managers than an investment club. They had
30 members, most of whom were snowbirds who attended about 2 meetings a year.
This was before Skype or other methods clubs can use to keep absent members in
the loop at meetings so they can participate.
I'm not sure what you are referring to, but the IRS couldn't care
less about how a club makes decisions. The SEC, however, could be concerned. The
issue usually isn't how many people (don't) make the decisions, but the rights
of the members to contribute to the decision process.
Ira Smilovitz
On Wed, Jun 25, 2014 at 10:01 PM, Peg Wentworth <pegw@comcast.net> wrote:
Rip or Ira might know for sure but I know about one Florida club with
just a few members making decisions that ran afoul of the IRS. Food for
thought.
Our club of 50 plus members is made up of only residents who live in our
senior condo development. We meet monthly in our clubhouse, with weekly
research meetings. We average about 21 people at the monthly. Only a
handful actually contribute to discussions. Most just pay their dues and
don't show up.
Sent via the Samsung GALAXY S(R)4,
an AT&T 4G LTE smartphone
Our club is based in PA, which limits the size to 20 members. At one time
we had 20 members but found it difficult to have time for everyone to be heard
at the meetings. We liked it best at 12-14 members, easy to schedule meetings
at homes of members, enough people to be "stockers" following a stock for
earnings, etc.
We now have 8 members but have plans to expand to 10 as soon as two
friends are done with projects. We started in 1998, have 19 stocks (too many
but most are real winners and we hate to sell them) and each unit is
$80.50.
Wondering where the club with 50 members meets and how they have time for
all members to be active and involved.
Hello and congratulations to all of you who have been in longstanding
clubs. My question is: How regularly do you meet? and what do you do
when no one shows for several meetings in a row?
On Friday 20/06/2014 at 11:39 am, Susan Maciolek wrote:
BCI founded 1994, 16 members, 16 stocks, unit valuation
=$80.23
ABODI Investment Club (aka A Bunch Of Dummies Investing) started in
2008 with 8 members and now we have 16 members and 27 stocks. Total Number
of Valuation Units to Date 2,454.290918 Value of One Unit
$26.750544 .
John
Rice
On Friday, June 20, 2014 6:24 AM, Laurie Frederiksen <laurie@bivio.biz>
wrote:
Hi Russell,
I am in two clubs. One began in 1998. It has 7
members, 13 stocks and a NAV of $33.16.
The other began in
2009. It has 8 members, 8 stocks and a NAV of
$17.45
Fun question!
Laurie Frederiksen Invest with your friends! www.bivio.com
Butterflies are
self-propelled flowers. - Robert A Heinlein
David Daughenbaugh on
Hi,
I'm am in a club that formed in 1989 with 20 members. We now
have 17 members and a portfolio of 15 stocks and meet once a
month with typically 6 - 10 members attending. Our current
unit value is around $95.50.
As for members that don't attend our general view is that as
long as a member is attending meetings and/or contributing
monthly dues they are still showing interest. When they stop
attending meetings and are not paying dues it becomes an
issue.
Our club is located in PA and I was curious about Peg's
first statement. Is there a law in PA that limits an
investment club size? Our club's by laws set our membership
limit at 20, but that was our choice. However as members
come and go we have considered increasing it in the past.
David
Stephen Doud on
Peg -
We are also a Pennsylvania club. Was wondering how you know
of the 20 member limit for clubs/partnerships like ours?
It's in our operating agreement also but we were thinking
about removing it (but now I'm wondering if that's not legal
or something!). I was searching the web, but can't seem to
find anything. Thanks!
Peg Wentworth on
Stephen,
We met as a group in late 1997 and a bookkeeper volunteered to contact NAIC
and the PA Department of Revenue. It was she who told us about the 20-member
limit. I am preparing for a meeting tonight, but when I get a chance I will
dig out the files and see the original bylaws that we followed while making
out own set.
If you are in a rush, you might email or call the department. I found them
quite willing to help, especially the first year we were required to file a
PA report.
Peg Wentworth, Lancaster PA WIN treasurer
-----Original Message-----
From: Stephen Doud
Sent: Tuesday, July 08, 2014 12:49 PM
To: club_cafe@bivio.com
Subject: [club_cafe] Re: long standing clubs
Peg -
We are also a Pennsylvania club. Was wondering how you know
of the 20 member limit for clubs/partnerships like ours?
It's in our operating agreement also but we were thinking
about removing it (but now I'm wondering if that's not legal
or something!). I was searching the web, but can't seem to
find anything. Thanks!
ira smilovitz on
Peg,
I would love to know the source, if you can find it. I suspect that NAIC told her that 20 was an optimal maximum number in order to keep things manageable. I can't believe that PA has any specific limit.
Ira Smilovitz
On Wed, Jul 9, 2014 at 5:05 PM, Peg Wentworth <pegw@comcast.net> wrote:
Stephen,
We met as a group in late 1997 and a bookkeeper volunteered to contact NAIC and the PA Department of Revenue. It was she who told us about the 20-member limit. I am preparing for a meeting tonight, but when I get a chance I will dig out the files and see the original bylaws that we followed while making out own set.
If you are in a rush, you might email or call the department. I found them quite willing to help, especially the first year we were required to file a PA report.
Peg Wentworth, Lancaster PA WIN treasurer
-----Original Message----- From: Stephen Doud
Sent: Tuesday, July 08, 2014 12:49 PM
To: club_cafe@bivio.com
Subject: [club_cafe] Re: long standing clubs
Peg -
We are also a Pennsylvania club. Was wondering how you know
of the 20 member limit for clubs/partnerships like ours?
It's in our operating agreement also but we were thinking
about removing it (but now I'm wondering if that's not legal
or something!). I was searching the web, but can't seem to
find anything. Thanks!