Investment Clubs Manual016 - Every share in your club...

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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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