Club of the Month: November 2002

Risk E-Chicks

CHICKS: Tell us how you met and how long you've been together as a club.

RISK E-CHICKS: Our Head Hen and our Second in Charge met while completing their residencies several years ago. In the summer of 2000, after reading Chicks Laying Nest Eggs, our Second in Charge called the Head Hen with the idea of beginning a club. Together, they gathered some family and friends, promising the hope of future riches. We wanted to get in on the boom, but little did we know that our entry point into the market would be at such a volatile time.

We are a relatively new club -- a collection of country and city chicks, from New York, New Jersey and Vermont -- and have only been together for about one year.

What prompted you to want to start a club?

We wanted to start a new club to learn more about investing in a safe and fun environment. We are all professional women, ranging in age from late twenties to early forties. Some of us have our own businesses, but prior to becoming involved in the club, most of us had little if any knowledge about investing.

How did you come up with "Risk E-Chicks"?

After a lot of chirping and clucking we took a vote and the result was our club name, Risk E-Chicks. It was our first introduction into the often complex and conflict-laden voting process. On a positive note, with all the psychologists in our group, behavior modification and anger management skills have improved.

Tell us about your meetings. Do you meet online, or face-to-face?

We meet online once each month and we also have two face-to-face meetings per year. We had our first face-to-face meeting in Manhattan and our second meeting was at a lovely B&B on the shores of Lake Champlain, New York.

How has your portfolio done?

Just chickie!!! And yours? At this point we own only two stocks and so are MINIMALLY diversified. At the moment, we are slightly off of the S & P but tomorrow is another day and we are optimistic about the future.

What's been the greatest benefit of being together as a club?

There are many benefits of being together as a club. We have begun to overcome our fears about investing and we have gained lots of computer knowledge along the way. We have also enjoyed getting to know some new chickies in a setting that is different from our usual daily routines. The other benefit of being in the group is having the opportunity to sit at the computer, in our P.J.'s, sipping a glass of wine to celebrate a recent stock purchase.

What about challenges?

In the young life of our club, we have certainly faced some challenges. Despite our high chick IQ and several advanced degrees, we knew nada about investing. Most of us work, five of us are mama-hens, we all lead busy lives and it is difficult to meet deadlines. Our solution to this problem is that we have agreed to slow the pace at which the club operates. In addition, many of us met for the first time online and via the message board, so it's been tricky for these chickies to mesh. But, our face-to-face meetings are helping to make this flock feel more connected. As part of our growing pains, a few chicks have flown the coop, but our newest members have proven to be top hens!

We always like a good story. You have any good club stories to tell?

As the urban chicks departed for the six-hour journey south from the border of Canada after our most recent face-to-face, one chick, who was in her third trimester of pregnancy, was suddenly sitting in a puddle of water. The snowflakes that had been gently falling had turned rapidly into a squall. As this was the chick's fourth child, contractions came quickly. A survey of the map revealed no local hospitals and our rural environs precluded cell phone use. But, these levelheaded chicks stayed calm, and it didn't hurt that two were Ob/Gyns and two were psychologists. In fact, at that moment we were feeling pretty lucky that we weren't investment bankers! Suddenly, the words, "I have to push!!" echoed through the mountains of the Adirondacks. It became clear that the new chick was going to hatch in our car - and it did. A nest was prepared using spread sheets analyzed at the face-to-face and the new hatchling was swaddled in the towels mistakenly taken from the B&B.

Do you have any advice for new clubs?

Based on our experiences, the following is some advice we would like to share with other new clubs: start out slowly and spend time building a solid infrastructure, have an early face-to-face meeting to strengthen the group, and try to include people with diverse skills who are equally enthusiastic about the club. Finally, expect that there are likely to be frustrations early on but with patience and tolerance your group will be able find its way.