Club of the Month: December 2001

Portfolio Pals

CHICKS: How did you all meet?
PORTFOLIO PALS: We are a long-standing group of "pals" (most of us for over 25 years), that have been celebrating birthdays together as a group; total birthday years of about 800 plus or minus. (Please do not do the math...)

Where are you located?
We are proudly located in Toledo, Ohio... Glass Capital of the World and home of the infamous Toledo Mud Hens.

How long have you been together?
We had our first organizational meeting December 8, 1999 and started buying stock in June 2000.

Would you accept any new members?
We have full membership at the present time (l6 members). We will accept new members to fill vacancies when needed.

Do you meet online or face-to-face?
We have a face-to-face meeting the last Tuesday of every month. We occasionally chat online regarding stocks and other "timely" issues.

What prompted you to start the club?
We were eager for the challenges of finances and the stock market. We are giving up on being young and thin-and going for "the rich."

How did you come up with your name?
Creative brainstorming. We're a group of "pals" who aspire to build a great group portfolio.

How has your portfolio done?
We proudly own Amgen, Commscope, GE, Medimmune, Mirant, Palm, Pepsi, Target, Webvan, Wells Fargo, and AOL-Time Warner. We are doing OK in a turbulent market, currently beating the S&P 500.

What is the greatest benefit you've received since joining your club?
We are enjoying many benefits (none of them financial yet, unfortunately, but we are patient, optimistic, and in for the long haul): knowledge of the stock market and internet, self-confidence, and the best part -- fabulous friendships!

Your club have any good stories?
Our funniest story also taught us a very good lesson. In a flurry to buy, we did just that without the homework... 100 shares of Webvan in June 2000 at $7 a share. When the stock fell to $1 a share in August 2000, we "doubled-down" to cut our losses and bought 100 more shares. Now that the company is bankrupt, we are banking on the class action suit to make our profit!

What has been your greatest problem running the club?
We are all very busy gals/pals and have lots of commitments. Consistent attendance can sometimes be a problem.

What advice do you have for other clubs?
Learn from your mistakes, be patient, have fun, and above all-serve wine at meetings!