Local women gather to dine, learn, invest

By Dorothy Bliskey
Special to The Reporter

Stock and portfolio talk resonates above the dinner table once a month when a Fond du Lac area group of investment-savvy women gathers at a local supper club.

While dining is the social lure, the real meat of the monthly meetings is the power of becoming wise investors together.

Formed 20 years ago as an investment club for women, the group known as Lakeside Investors is now accepting new members. Current president Carol Thome said that with retirements and women moving away, a few spots have opened to allow other women to join.

"We have 14 members right now and can grow to a maximum of 20, according to our bylaws which were devised by the NAIC (National Associate of Investor Clubs)," Thome said. "We are actively looking to expand our membership."

Created as a partnership in 1987, the local club purchases stocks as a group. Members thrive on becoming knowledgeable with the stock market and well versed with investment lingo. They take pride in the success of investing wisely.

"We pool our money to purchase specific stocks we vote to go with," said Thome, noting that Walgreens, Oshkosh Truck, Fastenal, UPS and Microsoft are among nearly 20 different stocks they own as a group.

Group buys stocks only

Thome said the group purchases stocks only — no bonds or mutual funds. On a personal level, however, Thome said she invests only in mutual funds.

"When we invest as a group, we can hold enough stocks to be diverse," Thome said. "It's the 'not all eggs in the same basket' theory."

At first glance, a Lakeside Investors meeting seems like a social outing, but the focus quickly turns serious.

As they rest their forks, one by one, the women give individual reports on the status of the stock they are responsible for tracking.

"Our socializing is limited due to the fact we only meet once a month, and we have a responsibility to our partnership," Thome said. "We all own all of the stocks together, and each person is responsible for following and reporting on a particular stock at each meeting. Twice a year, each member gives a formal, detailed stock study report with all the financial data on the stock they are tracking."

Members, whose careers range from office manager to teacher to business owner, initially contribute a sum of earnest money up front, followed by monthly donations at each meeting. Some have more money invested than others, especially those who are longtime members.

Members join to learn

Jean Zimmerman, a Rosendale business owner, has been a member for 18 years and has served as the group's president, vice president and secretary. She said she believes that most members join for the same reasons she did — to learn and to become smart investors.

"It is a continual learning experience, more so than a social club," Zimmerman said. "Most women join because they want to learn how to invest wisely."

On a personal level, Zimmerman said she has investment experience with her company's pension and profit-sharing funds.

Forms from the NAIC help guide the women in their stock selection.

"About three times a year, two or three members get together to study an industry," Thome said. "They then pick three or four leading stocks in that industry and report on them at a meeting. This must be done before we make an initial purchase."

Reports presented

Each meeting ends with a 10-minute educational report given by a member, varying from a book report to a news article to many other investment-related topics. A full evening educational meeting is held annually, with one being planned for June.

To learn even more, some of the women attend investment seminars sponsored by the NAIC or annual stock meetings of companies (stock) they own.

Joan Seichter, a charter member of the group, encourages prospective members to attend a couple of meetings before deciding to join or make a financial commitment.

"It helps them understand what we are all about," said Seichter, adding that upon joining, each new member is assigned a mentor.

While investment knowledge is not a prerequisite for joining, the thirst for learning about investments is usually the driving force behind becoming a member.

Bylaws outline the importance of meeting attendance, taking on leadership roles and digging in their heels to study the stock market. Members are expected to be participants, not just bystanders.

"The purpose of the club is primarily education," Seichter said. "It's based on the 'pay yourself to learn' theory."

Area women interested in joining Lakeside Investors can call current members Carol Thome at 923-6645 or Mary Cody at 922-7617. Meetings are held at 6 p.m. the second Tuesday of the month.