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Way back in 1992 ten of us got together and started this great adventure. Oh,yes...we knew there were other clubs around which we could join, and about a thousand or so mutual funds we could get into. But we all wanted to start a club, so that we could control our own destiny, and make our own investment decisions. We also were very interested in finding a way to build a new type of club wich anybody could afford to join, regardless of their income level, station in life, or any other limiting factors. Most of the other clubs we checked out required a new member to buy in as an equal partner. That meant that, if the club was worth $10,000, and their were 5 members, a new member would need to invest $2,000 at the outset. We felt that this limiting factor would prelude a lot of people from joining, either becuase they simply didn't want to risk that much initially, or they simply didn't have that kind of money lying around to sink into an investment venture. So, we got our heads together and decided that anybody can afford $10 a month, and that everybody ought to invest at least that much in savings on a regular basis. |
