West Akron investment club sees positive results
|Members of the 14K Investment Club are shown at a recent event. The club is open to all who want to learn more about investing.|
|Photo courtesy of John Robinson|
The club celebrated its 20th anniversary last year, according to President John Robinson, of Medina, and is actively seeking new members. Most members are from the West Akron area.
“We’re looking for professional people who are interested in learning more about stocks,” he said. “Typically we get people who are successful in their business or company, but they really don’t know how stocks work or maybe they are dissatisfied with their financial adviser. We don’t make it a math class — we try to make it fun and educational at the same time.”
Robinson said the group meets once a month at Papa Joe’s restaurant, 1561 Akron-Peninsula Road, for a dinner and meeting that usually features a guest speaker. Members also meet for a summer cookout and Christmas party, he added.
The club started with a group of women, but today both men and women belong, Robinson said.
“The members were local professional women that wanted to increase their knowledge of investing in a social atmosphere,” he said. “The club has had as many as over 20 members. Right now we have 10.”
To join, members contribute $600 a year, payable quarterly in $150 installments. The club members then work together to research stocks and companies and decide where to invest the money.
As things are looking up in the stock market, the club also is seeing positive returns on its investments, Robinson said.
“The stock market got its strength back, and we made over 30 percent in our investments last year,” he said. “We’re performing well, so it’s a good thing.”
The club typically selects stocks that pay dividends, so any money made is usually put into buying more stock.
“The cool thing is it’s more than play money,” he said. “The members take what they learn and invest in their own brokerage or portfolio.”
He added that each member typically tracks a favorite stock, and the group often engages in a spirited debate about issues such as investing in companies involved in fracking.
The group is part of BetterInvesting, formerly known as the National Association of Investors Corp., which provides research help and the opportunity to participate in webinars and conferences, Robinson said.
To join, new members are asked to attend a couple of meetings first to see if they are interested. For more information, contact Robinson at 330-697-6280.
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