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Community Corner

Bolingbrook's Wall Street Women: S.O.S. Financial Club

Womens S.O.S. Financial Club stays ahead of the curve with a tried and true method.

Investment clubs were all the rage in the ‘80s and ‘90s when a quaint and friendly group of gals known as the “Beardstown Ladies” captured headlines racking up stock returns that routinely averaged 25 percent.

And as the turn of the century loomed, a contingent of smart and savvy Bolingbrook women formed the S.O.S. Financial Club and have since enjoyed market success utilizing those same common sense strategies.

Kathy Thigpen, a founding member of the group, said despite the conception that now may be a poor time to enter the stock market, it may actually be one of the best.

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If you’re in the envious position of having money to invest, she said, the club extends an open invitation to utilize its experience and expertise to grow your money.  All they seek is a willingness to take a proactive stance in securing a comfortable financial future.  

 “We have a proven strategy that works,” said Club President Terri Ransom. “One of the first things we teach a new member is that you can’t follow the trends and fads. That is why the group has stayed together this long.”

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The club consists of founding members Thigpen, Ransom, Linda McNeece-Harris, Myrna Driskell and Brenda Davis, in addition to Kem Jennings, Veretta Mann, Anna Banks-Simeon, Jacqueline Wilks and Bena Jennings.

Meetings are held monthly on the second Friday of the month from 6:30 p.m. until 8 p.m. at various locations throughout Bolingbrook.

In June, the group will meet at the at . 

Attendee’s are expected to arrive prepared for open discussion.

At each meeting, one member is selected to research a particular stock and make a presentation to the group. From there, all engage in spirited conversation addressing the specific stock’s benefit potential.

“We have done well with the drug companies and above all, we don’t play games like day traders,” Ransom said. “That’s how you get caught. We stay away from high tech stocks and stocks where you can’t see a tangible product.”

The formula has worked well for the group.

Their collective efforts incent members to make more informed decisions offering a more personalized element. For instance, many decisions are based on personal and family usage.

“We look at the products and companies that we patronize and make our decision from that,” said Driskell. “Yum, for instance owns , , and . The economy is down but that’s not affecting the fast food industry. We all really love Yum. A few years ago we expanded our repertoire to include international stocks because China is hot.”

The group has learned from experience that they must remain aware of what is going on in their surroundings and be flexible in their thinking. They also avoid being overly concerned with stock peaks and valleys as well as sidestepping the “trap of becoming emotionally attached to one stock.”

“We follow the guidelines of the Better Investment Club, which is published by the National Association of Investment Clubs,” Davis said. “No one is able to join as a passive member. Everyone is expected to do their homework.

“We consider many things before make a purchase. We refer to the Stock Selection Guide, which tells us how the stock has performed over the past five years. We also look at the scouter rating, which analyzes a particular stock according to its risk versus its reward potential,” she said.

McNeece-Harris said the group has been a valuable learning experience and that the group has come a long way in understanding the terminology and the vernacular.

“We can now competently read the Wall Street Journal and Barons,” she said. “We’ve gotten to the point where we are a little more relaxed than we were in the beginning.  We are still structured, but we know that it’s okay to have a social component.

“Looking back, I’ve been proudest of the way we’ve empowered women. We have had a few members who have come and gone (mainly because of a job relocation), but they left with the knowledge that can be used and passed on to family members.  This is the legacy we hope to share.”

For more information about the club contact Terri Ransom at terranson@aol.com.

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