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The Great World of Investment Clubs | |
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What's All This Talk About Investment Clubs? | |
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Exactly What Is an Investment Club? | |
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Club Expectations | |
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Club Dynamics and Personality | |
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Investment Club History 101 | |
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Back in the Day | |
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The Membership Surge | |
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Why Do People Love Investment Clubs? | |
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Safety in Numbers | |
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Painless to the Pocketbook | |
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Knowledge Builds Confidence | |
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Not Everybody Thinks They're Great | |
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Who's Joining Investment Clubs? | |
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Who's Forming Investment Clubs? | |
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Some Successful Clubs and What They've Done | |
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Internet Clubs | |
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The Aloha Investors | |
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The Young Fah Investment Group | |
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The Black Monday Investment Group | |
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The Neighborhood Investment Club | |
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The Investment Analysis Group at Stern | |
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The Mutual Investment Club of Detroit | |
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The Beardstown Ladies' Investment Club | |
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The Moore Money Club | |
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The Fresh Start Investment Club | |
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The Ten Thousand Club | |
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The National Association of Investors Corporation | |
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Online Investment Clubs--the Wave of the Future? | |
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What Are Online Clubs? | |
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How Many Online Clubs Are out There? | |
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Comparing Online Clubs to the Old-Fashioned Kind | |
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Are Online Clubs Better? | |
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Or Are Online Clubs Not as Good? | |
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Where to Find Online Clubs | |
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Choosing an Online Club That Makes Sense for You | |
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Starting an Online Club | |
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Watching Out for Tricky Situations Online | |
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Deciding If an Investment Club Is Right for You | |
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Where You Stand Financially | |
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Get Control of Your Situation | |
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Get Control of Your Credit Cards | |
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Get Control of Your Expenses | |
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Where You're Heading Financially | |
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401(k) Plans | |
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Mutual Funds | |
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Money Markets | |
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Certificates of Deposit | |
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Consider Everything | |
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Advantages of Joining a Club | |
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It's Affordable | |
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It's Educational | |
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It's Structured | |
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It's Fun | |
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Disadvantages of Joining a Club | |
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It Requires a Commitment | |
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It'll Take Some Time | |
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Yes or No? | |
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Join the Club or Start Your Own? | |
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Joining Up | |
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Some Good Things | |
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Some Not-So-Good Things | |
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Finding a Club to Join | |
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Start Networking | |
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Put the Word Out | |
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Starting from Scratch | |
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Some Good Things | |
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Some Not-So-Good Things | |
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Making Your Decision | |
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The Basics of Starting a Club | |
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Bringing Club Members on Board | |
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Choosing and Finding Members | |
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Family Clubs | |
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Friends | |
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Women Investors | |
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Co-Workers | |
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Special-Interest Groups | |
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How Many People Should You Ask to Join? | |
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Don't Assume Everyone Has Money to Invest | |
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Minimizing a Clash of the Titans | |
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Tuning In to Different Investment Philosophies | |
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High-Risk Investors | |
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Moderate-Risk Investors | |
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Conservative Investors | |
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Keeping an Eye Out for Slackers | |
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Setting Expectations | |
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Schedule a Get-Acquainted Meeting | |
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Encourage Everyone to Participate | |
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RSVP, Please | |
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Getting Your Investment Club off to a Good Start | |
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What's in a Name? | |
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Where and When to Meet? | |
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Building a Firm Foundation | |
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Setting Goals | |
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Establishing Guidelines | |
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Anticipating Problems | |
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Electing Officers | |
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Keeping It Fun | |
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Establishing Operating Rules | |
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Choosing a Legal Structure for Your Club | |
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Partnerships | |
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A Taxing Situation | |
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Setup and Maintenance | |
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Sign on the Dotted Line | |
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Corporations | |
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Who's Liable? | |
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Types of Corporations | |
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Keeping It Legal | |
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Choosing a Bank | |
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Commercial Banks | |
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Thrifts | |
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Credit Unions | |
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Online Accounts | |
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Choosing an Account | |
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What to Include in Your Operating Agreement | |
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A Sample Partnership Agreement | |
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Looking for Outside Help | |
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Lawyers | |
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Accountants | |
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Ensuring That the Club Runs Smoothly | |
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Conducting Your Monthly Meetings | |
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Regular Attendance | |
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Increase Attendance | |
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Mandatory Meeting Minders | |
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Remembering to Keep It Fun | |
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Making Sure Members Remain Enthused | |
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Dealing with Disagreements | |
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Affiliating Your Club with the NAIC | |
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Using Sound Advice from Successful Clubs | |
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Details, Details | |
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Keeping Records the Right Way | |
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Understanding the Importance of Good Record Keeping | |
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Having a Good System Will Benefit Your Club | |
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A Poor System Causes All Kinds of Problems | |
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How Much Record Keeping Is Required? | |
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Club Minutes | |
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Financial Records | |
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Resources Available to Help with Record Keeping | |
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Choosing the Right Person--or People--for the Job | |
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Keeping Everyone Involved in Record Keeping | |
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Exactly How Does an Investment Club Operate? | |
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Determining an Initial Investment | |
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Operating Expenses | |
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Let's Get Serious | |
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Financial Commitments | |
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Determining a Monthly Investment | |
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The Average Investment | |
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What's Right for Your Club | |
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Finding That $50 | |
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Equal Contributions--or Not? | |
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Understanding Club Ownership | |
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How Can You Have More? | |
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What If Somebody Leaves? | |
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Can You Own Too Much? | |
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Who Gets the Profits? | |
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A Taxing Topic | |
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Getting Your Club a Tax ID Number | |
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Tax Reporting | |
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Partnership Taxation | |
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Filing a Return for Your Club | |
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To File or Not To File | |
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Filing for Each Member | |
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Exactly What Can You Be Taxed On? | |
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Tax Consequences of Short-Term and Long-Term Capital Gains | |
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Getting Professional Help with the Club's Tax Needs | |
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Going with a Broker--or Not | |
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Just What Do Brokers Do? | |
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Deciding Whether Your Club Needs a Broker or Not | |
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Full-Service or Discount? | |
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Full-Service Brokers | |
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Discount Brokers | |
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Getting the Best Deal (and Broker) for Your Club | |
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Not All Brokers Are Created Equal | |
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It's Time to Do Some Homework | |
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Understanding the Stock Market Before You Jump In | |
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What Does It Mean to Make an Investment? | |
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Why Does a Company Offer Its Stock for Sale? | |
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What Exactly Is the Stock Market? | |
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Performance Evaluation | |
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Comparing Indices | |
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The Many Flavors of Stock | |
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And Then There's the Bond Market | |
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Understanding Stock Market Risks | |
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Safe, but Not Exciting | |
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Exciting, but Just How Safe? | |
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Considering Mutual Funds as Investments for Your Club | |
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What Are Mutual Funds and How Do They Work? | |
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Know What You Are Purchasing | |
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Different Types of Mutual Funds | |
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Choosing a Load or No-Load Fund | |
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No-Load Funds | |
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Load Funds | |
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Different Kinds of Load Funds | |
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Front-End Load Funds | |
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Deferred Sales Charge Funds | |
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Back-End Load Funds | |
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Open-End Mutual Funds | |
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Closed-End Mutual Funds | |
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How Mutual Funds Can Be Beneficial to Investment Clubs | |
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International Exposure | |
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Diversification | |
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Finding and Buying the Funds You Want to Be In | |
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Some Mutual Funds to Consider | |
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Targeting Companies from Which to Buy Stock | |
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What Kind of Companies Should You Look For? | |
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Understand the Company's Product or Service | |
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Where Do You Start? | |
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Don't Forget to Diversify | |
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Know the Risks | |
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Limit Your Exposure | |
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Targeting Growth Industries and the Companies in Them | |
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How to Find Them | |
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Growth Industries for 2000 and Beyond | |
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Checking Out the Stocks You Targeted | |
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Using Annual Reports to Evaluate Companies | |
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Understanding Liquidity | |
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Understanding Leverage | |
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Understanding Profitability | |
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Understanding Performance | |
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Other Methods to Check Things Out | |
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Buying Stock--the Cornerstone of an Investment Club | |
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Knowing What To Buy--and What Not To Buy | |
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Not All Stock Is Created Equal | |
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The Basics of Buying Stocks | |
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Understanding Fundamental Analysis | |
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Industry Analysis | |
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Using Your Computer to Help You Choose Stock | |
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Being Socially Responsible When Buying Stock | |
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It's Everyone's Business | |
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Keeping Track of Your Investments | |
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Watching out for What You've Got | |
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Investments Don't Always Take Care of Themselves, You Know | |
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Keeping Track of Your Investments | |
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Reading the Stock Reports | |
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Other Methods of Keeping Up | |
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Using the Internet to Track Your Stocks | |
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Knowing About Market Timing | |
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Keeping an Eye on Cycles | |
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Indicators for Financial Health | |
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To Have and to Hold | |
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Advantages of Keeping Stocks Long Term | |
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Desperately Seeking Dividends | |
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What Are Dividends? | |
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How Do Dividends Affect a Company's Stock? | |
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Reinvesting Dividends | |
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Dividend Reinvestment Plans | |
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How DRPs Work | |
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Why DRPs Work | |
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Caution Signs for Dividend Reinvestment Plans | |
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Finding the Companies That Pay Dividends | |
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It's Trading Time | |
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What Does It Mean to Trade a Stock? | |
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The Pros and Cons of Trading | |
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How Do You Trade Stock? | |
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Market Orders | |
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Good-Til-Cancelled Orders | |
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Stop-Loss Order | |
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Getting Input from All Club Members Before a Trade | |
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Recognizing When the Time Is Right to Trade | |
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Know When to Walk Away | |
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Don't Be in a Big Hurry to Bail Out | |
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Reasons to Get Rid of an Investment | |
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Your Stock Turns Out to Be a Big Loser | |
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You Think Your Stock Is as High as It's Going to Go | |
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Bad Reasons to Sell Your Stock | |
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Perils of Getting Emotionally Involved with a Stock | |
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To Trade or Not To Trade | |
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Keeping Club Members Invested | |
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Everyone Should Be Responsible for Tracking Investments | |
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The Name of the Game Is Teamwork | |
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Beware the Bully Syndrome | |
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Making Sure You're Not Too Polite | |
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Remembering That You Won't Always Be a Winner | |
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Agreeing to Disagree | |
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Not Taking It Personally | |
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Keeping Everyone Involved with the Club | |
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The Evolution and Life Span of Your Investment Club | |
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How're You All Doing by Now? | |
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Evaluating the Health of Your Investment Club | |
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Is Everybody Happy? | |
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Are You Having Fun Yet? | |
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Looking at Your Members' Expectations | |
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Are They Too High? | |
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Are They Too Low? | |
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Remembering What Your Club Is All About | |
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Preventing Disasters from Derailing Your Club | |
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Knowing When You Need Some Help | |
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The Ebbs and Flows of an Investment Club | |
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Remember That Nothing Stays the Same | |
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Changes in Membership | |
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Adding New Members | |
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When Members Leave the Group | |
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Dealing with Shifting Group Dynamics | |
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Changing of the Guard | |
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How Often Should You Elect New Officers? | |
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Identifying the Best Candidates | |
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How's Your Hired Help Working Out? | |
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What Happens If Your Club's Not Working? | |
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Failure Isn't a Dirty Word | |
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Dealing with Solvable Problems | |
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Clashing Investment Philosophies | |
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Personality Conflicts | |
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Loss of Interest | |
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Recognizing Problems That Can't Be Solved | |
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Having the Courage to Disband the Club | |
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Legal Aspects of Disbanding | |
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Emotional Aspects of Disbanding | |
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There Are Worse Things in Life | |
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Using the Experience to Start Another Club | |
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Appendixes | |
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Glossary | |
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Resources | |
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Index | |