Joe,

Maybe we could start our own little SlowTwitch investing club w/ you handling it....any other takers? Now that Joe and I are buddies, I'm in!

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David
* Ironman for Life! (Blog) * IM Everyday Hero Video * Daggett Shuler Law *
Disclaimer: I have personal and professional relationships with many athletes, vendors, and organizations in the triathlon world.

Well David, The investment club idea may look good at first glance but not practical. I am only licensed to practice in about 14 states and 3 countries (and, that is no easy feat in itself). The problem with the internet is that it is restricted by states (or countries for that matter). So, if one of the members is a resident of Alaska (where I am not licensed) then 1) that member could not be a part of club or 2) I couldn't execute the trades. Basicly, it's not feasible.

What we currently have are SEC laws and NASD regulations that are 30 to 80 yrs. old. Those laws and regulations did not take into account todays technolgy and the communications system we now use. Until those rules changed, I'm pretty restricted. In fact, I could not use the internet as a median to communicate, advertise or solicite without special permission and reviews from compliance (code word for lawyers). Special note to big brother - I have not and did not solicite.

I have had only had two investment clubs in my career. They consisted of a group of doctors (min. initial investment was about $10,000 - monthly cost $1000 per member). The other consisted of a group of Ranchers in the middle of no where. When I received the account from another firm, it already accumulated about $250,000 with a monthly cost of $500 per member. In retrospect, the doctors were a real pain... they could never get along or come to a conclusive decision. When they did, they did really dumb things - alot. The ranchers just used the investment club as an excuse to get together every month and have a big barbeque. Now, that was a nice group of people. What happen to them is simple. The doctors eventually split the group up. The Rancher's divided the assets up when 4 of the key members died of natural causes (there were only 7 to start with).

I guess the point I'm trying to make is investing from my standpoint is a serious business. Whether it's $100 or a few Million, the investment of funds is work and not entertainment. A lot of people have the wrong idea about my profession. And, a lot of the misperceptions is actually a fault of my own profession. Those who have been in the profession as long as I have (btw, there isn't that many) usually begin to specialize. Unfortunately, I don't specialize in Investment groups. I try to stick with structured settlements, high net worth individiuls/familys/trust and Business Retirement plans (which would include Rollovers). (note: no solicitation - just the facts).

If you like, I can e-mail my business sight... Rules prohibit me from posting a reference to my sight on ng. In fact, rules prohibit me from discussing much about my business on the internet without review. Heck, I do a TV show on a local NBC affiliate and I have to be audited on everything I say. They are recorded and reviewed - what a pain. In fact, I'm very lucky I work for a firm that even allows me to do such a thing (most don't).

Sorry, but I'll have to pass on the investment club/group idea. But, thanks.

Joe Moya