Getting an Investment Club Started - Mission Statement
Youll want to come up with an appropriate mission statement for your investment club.
This isnt something that you need to do right away but within a few months of your startup youll want to have your mission statement in place.
A mission statement for your investment club is a simple way for you to stay focused and aware of the goals that youve set out for your investment club.
Your mission statement will outline clearly how your investment club is going to be organized and how youre going to reach your goals.
Youll want to write down your mission statement and make sure that each member of the club, and any future members, has a copy of the mission statement.
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Once youve agreed on all of the above issues youre ready for your second meeting where youll be taking care of more of the finer points of investing, such as legal details and tax issues.
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Even those complete newcomers to the stock market will have a valued opinion and pieces of information that when you add it all together equals a lot of thinking power. A value investor takes a close look at those companies in the stock market that have a low value. It does, however, mean that youll have more control over where your money goes, what you do with it, and how much of it you want to invest into the stock market.
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Someone who is just using the stock market to make money quickly for a short period of time is called a trader. Youll also need the ID number when youre dealing with a brokerage firm and your bank when youre opening up accounts for your investment club. When you use a discount broker you wont have to pay a huge commission to a full time broker. People who are part of an investment club are willing to take chances so that they can make a profit, enjoying the entire process of the stock market and checking each day to see how their stocks have done overnight.
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