Goodmorning everybody i was jusdt wondering if there is anybody that is interested in starting up an investors club. i am currently doing research with regards to the requirements. please advise if you'll have any further info
Myself and a couple of people have done / tried this a couple of times. The first time with a group of local people, who in the beginning were all fired up, but it slowly faded, and ended up with myself and colleague basically becoming "fund managers", which wasnt the point. I am now starting one with my brothers which will take the form of a club. We will need a constitution and FICA docs for all parties. the problem here is that you can only have one log in to the SFM site, and only 1 person can log in at a time. It would be nice if you could have multiple "passive" log ins. Anyway thats where we are now. Some people have suggested opening a Trust or a CC, but that depends on the size of your club.
I had a similar experience that after a short while, it became a Club of 1, with a group of people sleeping peacefully while I did the work. It has now changed with FICA, SARS etc to a Investment Discussion Club with each person being responsible for their own trades, costs & decisions. The question to be answered is : What are the advantages to bulking up cash to invest vs. an each man to himself approach? Investing as opposed to trading is not "sexy" or "glamorous", it is taking well researched, calculated decisions & then waiting.... Most people just dont have the patience for that. I suggest you form a Investment / Wine club. That way you get to talk shares from 7 - 8pm & suip from 8 - midnight - everyone stays motivated - Call it a "Financial DOP Incentive System" OMO
hi thanks for your interest with regards to the club i am in the durban south area but i am however willing to meet or probably you can contact me via e mail my address is as follows [email protected] i look forward to hearing from you. regards justin