Thirteen Virginia investment clubs shared the secrets of their togetherness — some of the clubs began in the 1960s — with the Richmond Times-Dispatch for a recent article. At least one club has assets above $1 million.
“We learn a little bit, but we have a good time and enjoy each other. I think that’s why it’s lasted so long,” Tina Royster said in the story. She’s an original member of the Huguenot Investors, 24 women who belong to a club with roots reaching back to March 1968. The club runs a $373,000 portfolio, some paid out over the years.
Stocks owned by the BoyzNiteOut99 Investment Club in the Richmond area are doing well this year, member Robert Passmore told the newspaper, adding that the goal is shares that will grow in value by 20 percent.
“We are more on the riskier side than you would be with your personal portfolio,” he said in the article, adding that, “Nobody is really betting the rent money.”
Stocks popular with BetterInvesting clubs include Amazon, Apple, Disney, Facebook, General Electric, Google, Johnson & Johnson, Microsoft, Starbucks and Visa.
Members of clubs such as the Winning Image Investment Club pay monthly fees, in this case $50, and watch as their investments bloom. This club currently has 24 stocks worth $630,000, but since its 1986 founding in Kilmarnock, Va., has owned shares in 240 different companies, president Carol Cole told the newspaper.
“We try to keep diversified but, at the present, we are a little heavy in tech stocks. This philosophy has worked very well for us and, in the last few years, we have been able to pay out a cash distribution to each member,” she said in the Times-Dispatch.
The Virginia clubs profiled in the article reflect the background of BetterInvesting clubs nationwide. Some were formed by family members, others by a group of co-workers, friends or neighbors.
The clubs featured in the Times-Dispatch story besides those mentioned are: the Fat Assets Investment Club, Colleagues Investment Club, Ticker Tape Investment Club, BoyzNiteOut99 Investment Club, Golden Girls Investment Club, Tony and the Girls, Blue Chip Investment Club, Carrsbrook Homemakers Investment Club, Margaret Ola Investment Fund LLC, and the River City Investment Club.
BetterInvesting is a national nonprofit organization that has been empowering individual investors since 1951. Founded in Detroit, the association (formerly known as National Association of Investors Corporation) was borne out of the conviction that anyone can become a successful long-term investor by following commonsense investing practices. BetterInvesting has helped more than 5 million people become better, more informed investors by providing webinars, in-person events, easy-to-use online tools for analyzing stocks, a monthly magazine and a community of volunteers and like-minded investors. For more information about BetterInvesting, visit its website at www.betterinvesting.org or call toll free (877) 275-6242.