Unformatted text preview: Every share in your club portfolio should have its champion. His or her job is to check on that single share's price at least once a day and, if there is a signiﬁcant price movement,
Identify why It has happened. Then if necessary, in consultation with the chairman, the
champion should have authorisation to instruct the club treasurer (or whoever) to sell the
share. inviting potential members The next stage will be to hold a further meeting to which potential members will be invited.
Plan it now. Fix a provisional date, time and venue, allowing a reasonable period of time for the core group to approach their friends, relatives and work colleagues who might be
interested. Decide who is going to chair the preliminary meeting and who is going to give a brief talk
about Investment clubs. This may be one of the founders who has read The PIC Manual and
accompanying literature. The speaker should be prepared to answer questions, most of which
can be anticipated after reading this Manual.The ofﬁcial club chairperson and other ofﬁcers
will be elected later at the club‘s inaugural meeting. The number of members you want in your club is obviously up to the club to democratically
decide, but remember that It is often Inﬂuenced by the proposed venue. If you are meeting in
each other's homes the size of room will be an important factor. And, whilst it is vital that you
seek kindred spirits who will enjoy each other’s company and will accept the suggested level
of ﬁnancial commitment, we suggest you consider a variety of age levels and life experience.
These ingredients will widen your'Circle of Competence’ when it comes to making informed
investment decisions. Other matters which should be discussed include: The degree of ﬂnandal involvement The level of subscriptions and Joining fees will be of prime Interest. Although this will
eventually be decided by the members, it may be beneﬁcial to set out the amount which
the founders have in mind and sound out the views of those present. Most clubs have a
standard monthly subscription - Le. every member pays the same amount - but this is not
an obligatory rule. Some clubs, particular those involving ofﬁce colleagues, have a variety
of subscriptions. The ofﬁce junlor may pay £10 a month and the manager may be happy to
put In £50. If the club decides to do this It is quite acceptable, although it involves a little
more work for the club treasurer. However, it Is imperative that when it comes to voting on
any matter, and particularly investment decisions, it must always be 1One Member, One Vote’.
Successful investment clubs do not have second class citizens. October 2008 ProShare Investment Club THE MANUAL ...
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- Spring '10