The club was formed in January of 2000 by a bunch of workmates with the sole intention of becoming so disgustingly rich, they would all be able to give up work, as multi-millionaires, within the year.

Yeah, right.

As it happens, it just seemed that stocks and shares seemed to be a good place to invest money. The return, historically, is better than the Building Societies, and whilst there is a very real risk of losing your wedge, so to speak, the gamble, when offset against the fun and excitement to be had, made us all think it was worthwhile.

We started with an inaugural meeting of a few die-hards with nothing better to do in their spare time than to sit around in a deserted Canteen on a Tuesday night, wishing there was a beer on offer, and talk about throwing money away!!

Despite this, we were not instantly Certified as insane, well, not all of us anyway....and from that meeting the Club was born.

Banking is done through HSBC, and we use the Treasurer account, which is simple to set up, and suits our needs.

We have chosen Charles Schwab as our investment broker. There were a number of reasons for this, and I wish that I could say it was because they offer excellent on-line dealing at reasonable rates, or that they are a large, well known Company, etc. Unfortunately, despite all that being true, the main reason for choosing them was simply because they gave us a Pro-share manual. I know, I know, mercenary, easily bought, etc......But still nearly £30 better off!!!

The Pro-Share manual, in my humble opinion, really is a must for any fledgling investment club. It gives detailed guidance on setting up a club, right from the inaugural meeting, through to completing the yearly tax returns (boo, hiss) and comes complete with all necessary paperwork in both hard copy, and on floppy disc. An absolute essential, bearing in mind the sort of cash that a club will be dealing in over the years.

On the subject of money. Our club uses the COW2000 accounting system. Some would argue that it is an expensive way of keeping books, which can be done by hand, thereby saving the best part of £100. Well, that may be right, but bear in mind, again, the amounts of cash passing through the Clubs coffers (our club has 20 (Max) members, at £25 per month, which equals £6,000 p.a., excluding any `extra` individual savings), and you begin to realize that a simple mistake, at best can leave a nasty taste, and at worst land someone in a lot of hot water! If you were unlucky enough to experience that, just see if you thought the small initial outlay was worth it or not!! The software itself, works hand in hand with the Pro-share manual, and works out, at the touch of a button the unit valuations, produces all required forms (including the yearly tax returns) and also includes an inter-club investment challenge. It is highly recommended, and further details can be obtained from:

Computer Office workshops (COW),

28, Tregease Road,

St Agnes,

Cornwall,

TR5 0SL

By the way, despite us living in the same neck of the woods as the above software manufacturer, none of us have any links (as far as I know) with the author/vendor. This is simply our thoughts on a good product. So there!!

Our Club members are spread all over Cornwall, from Wadebridge, on the North Coast, to St Austell, and as far West as Hayle. It was therefore a bit of a problem, deciding where to meet. After much discussion, it was decided that we would meet bi-monthly to start, until funds had picked up, and the venue would change each time, with each Member, in alphabetical order, picking the venue. We thought that, although it would have been nice to have a recognized `base`, this was by far the fairest option in terms of traveling.