--
Frank Novotny
 
---- Joel Olander <goodrich@bivio.com> wrote:
> M. Ostrem,
>
> No it's not a mutual fund. All our members are invited to
> attend all meetings. Some choose to attend, most don't.
> Meeting monthly is ridiculous. It may a fun way to
> entertain yourselves, but your returns will likely be worse
> the more you meet and trade. We're here to make money long
> term and I would venture to guess our annual returns blow
> away most clubs here.
>
>
> Lynn Ostrem wrote:
> > Michelle, if you are listening...
> >
> > These two gentlemen state that they have successful clubs by meeting only
> > 4-6 times per year and having 16% to 42% of their members
> > participate--maybe. That's a mutual fund, but a club. Please don't gauge
> > your situation against this scenario!
> >
> > Lynn Ostrem, President
> > garbagecop@foxinternet.net
> > Crow River Investment Club
> > www.bivio.com/crowriver

To Joel
We have 75 members and we meet EVERY WEEK. We run our Club as a business. When you make the profits that we do you have no trouble holding the interest of the members.

> We run our Club as a business. When you make the profits that we do
> you have no trouble holding the interest of the members.

Hear, hear! We run ours like a business, too, and just because we meet
monthly doesn't mean we "TRADE" monthly! In fact, we've only sold stock in
order to buy out a couple of partners. Our club is beating the market and
our meetings are centered around education.

I wouldn't be proud of the fact that half the members don't show up! Sounds
like something is missing.

Lynn

Is it even legal to manage someone elses money without a
license or their participation?

Lynn Ostrem wrote:
> > We run our Club as a business. When you make the profits that we do
> > you have no trouble holding the interest of the members.
>
> Hear, hear! We run ours like a business, too, and just because we meet
> monthly doesn't mean we "TRADE" monthly! In fact, we've only sold stock in
> order to buy out a couple of partners. Our club is beating the market and
> our meetings are centered around education.
>
> I wouldn't be proud of the fact that half the members don't show up! Sounds
> like something is missing.
>
> Lynn

> Is it even legal to manage someone elses money without a
> license or their participation?

No Ernie, it isn't legal. However, I don't think we're talking about it
being done purposely to defraud. (Although, we've had people show up here
on Bivio who wanted to do just that--get your money and start their own
little brokerage!)

This is more an argument about the purpose of a club. And as NAIC members,
we know that pooling our time and talent to learn about stock investing is
the whole purpose. If I'm going to place my money with someone else who
will make decisions about whether or not that money earns a profit, I'm
certainly not going to do it with a bunch of novices! I'd rather give it to
a professional. People who don't care to participate in the great club
exerience should do the same.

I've been clubbing for over 10 years now, and I started teaching clubs in
2001. I've run into many different personalities. The ones who get
defensive over this subject are usually the control freak wannabees who
simply don't have the talent or the money to pay for brokerage school. They
prefer to have lots of silent club members.

Ah well. As the year winds down, I'm hoping that Bivio club members are
ending the year on a lighter note than when it began. Portfolios are in the
black and the news for 2005 is very encouraging. If you have a library
close by, or if you subscribe to The S&P Outlook, this week's edition covers
all the sectors and which industries they see excelling this coming year.
Very interesting issue, indeed.

Good luck to all of you in 2005!

Lynn Ostrem, President
garbagecop@foxinternet.net
Crow River Investment Club
www.bivio.com/crowriver