Here are four key principles to which all clubs should adhere if they wish for a profitable and pleasurable investment club experience:
1. Agree on an investing approach and stick to it
2. Think and act long term
3. Use your computer to run your club and analyze stocks
4. Always remember that education is key
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More information about ICLUB’s suite of products for investors and investment clubs can be found at www.ICLUB.com
Doug Gerlach is the President of ICLUBcentral Inc., makers of software for individual investors and investment clubs. He is the author of six financial books, including the Investor’s Web Guide, The Complete Idiot’s Guide to Online Investing, The Armchair Millionaire, Investment Clubs for Dummies, BetterInvestings’s Guide to Direct Stock Investing and the Internet and The Pocket Idiot’s Guide to Direct Stock Investing. He writes the “Clubhouse” column in BetterInvesting Magazine and has also written articles for publications such as Individual Investor, PC World and ComputerLife.