In the Technology Age, which often translates into communication via virtual meetings and email in place of “old-fashioned” face-to-face meetings or egads – a chat on the telephone -- what’s going on in Minnesota might be considered a bit, well, unusual. In a world where things seem to be moving faster and faster and where people often hide behind virtual walls, the StockCentral Street Team has brought the personal touch back to investment education. That’s likely because maverick Lynn Ostrem is in charge.

 

Lynn took what was originally intended to be an online initiative and, with a combination of her extensive knowledge of investing and high energy, created an exquisite menu of mentoring programs, road classes, individual instruction, and affordable half-day investor education events for local investors. "When ICLUBcentral set up the StockCentral Street Team, I believe it was meant to bring people together online to find ways of improving the new community website,” says Lynn, who is the President of the Crow River Investment Club in Minneapolis, Minn. “But I thought we could do even more. So, I turned to Robert Brooker and Doug Gerlach, who were only too happy to support our efforts. And so I took the concept literally – to the streets.”

 

Lynn was right – on both accounts. “When we first launched StockCentral, we had a lot of members giving us advice and offering to help out. The Street Team was formed in response to that effort,” Doug says. “This group helps to test new features on the site, gives us feedback about the way the site is organized and how the tools work, and helps in other ways to broadcast news about the site. They are the ‘insiders.’"

 

The face-to-face initiative has been the perfect complement to this online community. “We work to meet the needs of individual investors,” Lynn says. “We visit established investment clubs, help to start new clubs, train and educate people. That’s what StockCentral is all about – education. It’s been a smashing success.”

 

And the timing was certainly right. “A combination of retiring chapter directors and a bad economy sent investors into hiding, leaving us in need of more support for the individual and club investors in the Minneapolis/St. Paul area,” Lynn says. “Investors need support – particularly in trying times. The StockCentral Street Team is a way to help promote Investor Education at the local level.”

 

The Street Team held its first half-day event in January 2008. The weather – a frigid 17-below zero -- didn't stop a hearty crowd of 65 investors from assembling to learn from the likes of Mark Robertson from Manifest Investing, Matt Willms from Quant IX Software, Lee Wenzel, a popular, local AAII instructor who brought some basic technical analysis to the table, and of course, ICLUBcentral’s very own Doug Gerlach.

 

Since then, the local team has provided smaller class venues and road classes. One of the favorites is the Toolkit 6 class. “It is an exceptionally good class,” says Carole Ripplinger, an individual and club investor. “Lynn doesn’t just talk – she shows you how to do it. She’s an extremely good speaker and is very prepared. You’re getting something hands-on when you’re listening to Lynn.”

 

The Street Team isn’t just for beginners. Even with a decade of experience under her belt, Carole says there is plenty to be gained. “I have attended all of the classes and events – and they are all worthwhile,” she says. “It’s always a great experience and I always learn something. I go home with a tip, with something to research, something to learn more about.”

 

And the Street Team is continuously growing and expanding in response to investors’ needs. Just recently, Lynn honored a request from the Partners In Prosperity Investment Club of Minneapolis, Minn. to review the 16-year-old club’s portfolio. “The portfolio review is a great educational tool,” says member Connie Fournier. “Because Lynn took us back through the basics of successful portfolio management, it helped to remind us of our original purpose and approach.”

 

Even experienced clubs need that reminder. “Most clubs experience turnover – members come and go – and things change,” Connie says. “When you’ve been a member of a club for a while, it’s helpful to revisit the club’s purpose and approach to investing.”

                          

Club members realized they’d become overdependent on a few club members, who conducted most of the research. “After Lynn left, we had a lot to discuss,” she says. “We took a step back and reflected on where we’ve been and where we’re going,” Connie says. “We agreed that we all need to step up, learn the tools and use them more efficiently.

 

“We’ve always used the Toolkit software – but there are so many ways to use the data, that sometimes, it could be overwhelming,” Connie says. “It’s going to be easier to do that now with all of the tools available through StockCentral. We will be able to investigate stocks more quickly and more thoroughly. We now know that if a stock falls 3 percent below our expectations, it’s time to investigate. In the past, it’s taken us too long to get to that place.”

 

And members of the Partners in Prosperity are ready to walk the walk, not just talk the talk. “We’ve purchased the Stock Study handbook for each member, and we’re in the process of going through it, one lesson at a time,” Connie says. “We’ve done that in the past, but since then, new people have joined the club. So, for the older members, it’s a chance to review; for the newer members, an opportunity to learn, and for all of us, a chance to get back to the basics.”

 

In addition, club members – two of whom attended a StockCentral training event in January – have committed to attending the October training sessions, including the club's Mac users. “To be offered assistance on the road as we go through this process, that there are so many tools available to us and people willing to help is fabulous,” says Connie, who notes that the club not only benefitted from Lynn’s input, but was pleasantly surprised when she also provided a review of their club holdings from investment guru Ralph Seger.

 

Another group benefiting from the team's effort was one assembled by Margaret Nyoike. She and seven of her friends decided to start an investment club, and Lynn, who has helped to start more than 100 clubs, was only too happy to offer her "Start Your Own Investment Club" class, complete with a PowerPoint presentation and a detailed checklist that covers all aspects of starting a club.

 

Lynn agrees that while the virtual world has opened many doors of opportunity, it can also be overwhelming. “There are so many financial newsletters and subscriptions and software programs calling our name,” she says. “One day we look up to find we are spending hundreds of dollars per year, when StockCentral can provide us with nearly all the information we require to find, research, and analyze stocks – and for a lot less. I recommend that new clubs require their members to join StockCentral.com. The online tools are very simple to learn and the education library provides additional support.”

 

“The eventual idea is that local chapters will spring up out of this grass roots effort,” Doug says. “It's not really a network of "chapters," at least not yet, but the Minnesota group has coalesced around that kind of "chapter" idea. We've done local events in Orange County, Calif., and have another scheduled for Florida later this year.”

 

The Minnesota Street Team has another big event scheduled in October. "Mary Ann Davis is coming!" Lynn says. "She will be sharing her method of incorporating the tools available in the Toolkit software with the use of price charts to determine the best time to buy and sell stocks. She's a top notch veteran instructor who is very popular on the chapter and national InvestEd circuit. Mark your calendars and watch our StockCentral online newsletters for information on the event.”