Memorial fund in memory of Edwarda Message Board

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Pastimes : Memorial fund in memory of Edwarda

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To: Neenny who wrote (195)	8/7/2000 6:19:21 PM
From: James R. Barrett	Read Replies (1) of 240

Jane, this is how the club would work. Each member would own an equal percentage. Ten members would own 10% each. Forty members 2.5% each. Sixty members 1.666% each. Lets assume the first ten members chip in $200 each on Oct. 1st. We buy $2,000 worth of stock on Friday Oct.6th. Now say another SI member wants to join the club on Oct. 24. He/she will have to pay 1/10 of the total portfolio value as of Fri. Oct. 27. If the fund's value has gone up to $2234 he/she will pay $223.40 to join. Each member will now own 1/11 of the fund. A 12th member would pay 1/11 of the fund's value and so on. If the value of the fund went down to $1800 the 11th member would only pay $180 to join. Each member would continue to contribute an agreed upon amount each month or every three months to buy more stock. We will need to set up a taxable trust account with an online broker. I would suggest Ameritrade, $8 per trade. Do you have any questions or possible improvements to the idea? Jim

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