Women are getting together to invest and are having fun while doing so.
Created three years ago by Anthem Country Club’s Doreen Drew, The Power of Women Investment Group recruited 10 people to join when the group was started. The number has been maintained since. The members come from various backgrounds, including lawyers, Realtors and TV news personnel.
The women chip in $100 per month and meet from 4 to 6 p.m. the fourth Thursday of every month to decide which company to invest in. Currently, The Power of Women Investment Group is investing in more than 30 companies that vary from construction to clean energy to communications.
“We learn something each time on our investment. Sometimes good, sometimes bad, but we learn and that’s the whole object of this,” said Connie Henry, the president of the group and an Anthem resident.
The member search groups for the chosen industry to decide which one they will invest in. For example, they’re looking at investing in the infrastructure market. The women will discuss their findings, determine which groups, if any, to invest in at that meeting, and bring up any potential grievances from previous meetings.
If a decision can’t be reached, the women will usually look at exchange traded funds. An ETF can be purchased or sold on a stock exchange like regular stock, and it tracks a type of asset. A common example of an ETF is the S&P 500.
Sometimes the group will wait to invest in a group and watch what happens in the stock market, like when COVID-19 started last year.
“We just try to learn about investing and try to make money,” Henry said. “That is the goal — to make money. We’re in it to find good companies that will improve and be good investments. So far, we’re doing OK,” Henry said.
The group is conducting Zoom meetings, but usually meet at Henry’s Anthem home.
“Our portfolio is staying right up with Fortune 500, so I’m kind of proud about that. First couple of years it wasn’t that way, but we’ve gotten better at our choices and we’ve learned,” Henry said.
Anyone interested in joining the group should contact Henry at firstname.lastname@example.org or 624-680-4011. Prospective members need to attend at least one meeting as an observer. They have the option to attend a second meeting. If the prospect decides to join, she would need to invest an initial $500 and then contribute the monthly fee of $100.