Still, I must admit that while there are lots of computerized gadgets in the world that I have readily embraced, there are a few that I’m not so fond of. Like computerized calendars. I have several calendars – and they’re all the old-fashioned, paper kind. There’s one hanging in my kitchen and another in my office. On top of that, I have a huge, desktop-sized calendar that contains both social and business commitments on it – and I actually take it back and forth with me to my new office.

I’m sure I look ridiculous carrying a desk pad calendar that easily measures three feet by two-and-a-half to work each day. Matter of fact, a colleague recently, carefully broached the subject. Had I ever, er, uh, perhaps considered a BlackBerry? Or, at the very least, maybe one of those small, traveling planners – one that could fit in my purse?

Sure, I’ve considered it. Briefly. But I decided against it because, well, I’m quite fond of my desktop calendar. I like having everything – from writing deadlines to doctors’ appointments – written out in huge blocks where I can see everything all at once. I like being able to scribble notes down the side or across the top. And I like being able to flip through the pages to jot a note to myself about something I’ll need to revisit several months down the road.

The Time Has Come
The only reason I’d consider changing to a computerized calendar would be if I thought my current calendar was somehow making me less efficient at what I do. But while I admit that my method is a bit eccentric, it works for me. The minute that it stops working for me -- and reeks of inefficiency -- will be the minute I make the change, though I hope that time never comes.

Investment clubs, unfortunately, no longer have that luxury. The time has come – in fact, it came a while back -- for both new and well-established clubs accustomed to using the paper-and-pencil version of the Stock Selection Guide to take advantage of the new Millennium and all it has to offer. In short, that means using the computer to not only increase the speed with which your club conducts stock analysis, but also its efficiency.

Efficiency, efficiency, efficiency…
“In general, people who don’t know their way around a computer are going to avoid it and cling to what they know best – paper and pencil,” says Gene Rooks, co-treasurer of the Southern Women Investing Money Club in Orlando, Fla. and one of ICLUBcentral's volunteer club accounting advisers. But when it comes to stock evaluation and comparison tools like the Stock Selection Guide, clinging to old-fashioned methods rob your club of both time and opportunity. In the same amount of time that it takes your club members to complete a manual SSG, members could have completed five or six computerized SSGs.

“Even if you know how to do an SSG on paper, it will take a skilled person a minimum of 20 to 30 minutes to complete one and a newbie can easily spend up to two hours. It becomes pretty challenging to compare several companies within an industry if you have to spend an entire evening just completing one or two SSGs,” Gene says.

Step by Step
If your club falls into this category, it’s time to make the move to computerized stock analysis. “Clubs should make being computer literate a priority, and insist that members commit to subscribing to a data source like a membership to StockCentral provides, and a program for stock selection that is based on the Stock Selection Guide,” Gene says.

The very easiest and least expensive way to get everyone on board is to insist that all members subscribe to StockCentral. This will give them each access to instant TakeStock analysis, a stock screener, financial statement analyzer, data sheets that are easier to read than Value Line for manual input into paper SSG's, stock resource links, plus a library of information and community forums. Though you can’t change the judgment section in Take Stock – what you see is what you get – it does offer food for thought and ample explanations of the methodology. Better yet is to get everyone into the Toolkit software, along with the StockCentral subscription for the data.

No Room for “Preference”
Some clubs are reluctant to mandate that members use computers in their stock study analysis, fearing such a requirement would be unfair to members who don’t own or have access to a computer. This decision is, of course, each club’s prerogative, but, as Gene notes, “In today’s world, there’s seldom anyone who would join an investment club who wouldn’t have access to a computer. Choosing whether or not to use a computer is more than likely a matter of preference.”

And it’s not always a matter of the club member’s age. In fact, Gene relays the story of a young woman in her 30s who joined her club, but didn’t like using a computer. “We weren’t trying to single her out – but the other members would often talk about websites and information that they gathered online, and she felt left out.” Eventually, she left the club.

It was probably just as well, Gene says. With the wide range of data available online coupled with top-notch stock analysis software, the computer is no longer a matter of preference – but has become an essential part of the equation for investment club success.