A group of Betta Sigma Phi sorority sisters in Woodbridge has started their own investment club.
When this group talks about Starbucks, they aren’t discussing the newest latte or their favorite muffin, they talk about their stock in the coffee giant. Their share of stock in Starbucks has risen from $29.28 a share when they first got it in September of 2007, to the current value of about $75 a share.
“It’s done fine,” said Joan Lam, president of the Virginia Commonwealth Investors’ Club of Woodbridge.
Starbucks is just one stock the club is watching in its portfolio of 23 stocks that range from large to small, with varying risks. RPM and Home Depot were the original stocks the club started with.
“We reinvest all our dividends,” said Lam.
Virginia Commonwealth Investor’s Club has been around since the spring of 1997 with a goal of learning about the stock market, buying stocks, selling stocks, and making money in the process.
Right now, only three members of Betta Sigma Phi are left in the club that started out in the sorority.
“We’ve lost some, and we’ve gained some,” Lam said.
The group gets together for monthly meetings attended by 25 members, the maximum number of partners allowed according to their bylaws. Everybody is an equal voting partner.
Everyone pays dues, and then they follow an agenda which usually involves training to some extent.
The group goes to all kinds of events, including a road trip to the New York Stock Exchange.
One thing the group is focusing on teaching its members is how to run their family’s financial business on their own.
“This is something I want people to learn,” said Lam. “My mother never took care of the money.”
With the pandemic sending the stock markets to new lows and the levels of uncertainty facing everyone, the club isn’t slowing down.
“This is a good time to buy in this environment,” she said.
Each club member is required to join BetterInvesting. It was established in 1951 as a 501(c)(3) nonprofit organization to help people learn how to invest profitably in stocks of high-quality growth companies.
They support investment clubs and individuals through education, online stock selection, analysis tools, and publications.
“That’s how you learn,” Lam said.
BetterInvesting also lists the five top stocks every month. For example, in May, the five top stocks are Microsoft, Apple, Amazon, Walt Disney, and Visa.
The club looks at what is highlighted by the investment company, but in the end, they make their own purchases.
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