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Published on: 7/20/2007
Last Visited: 7/20/2007
The Dow's record benchmark certainly "increased the value a lot" of the stocks of the Middle Aged Dreamers, a local investment club, said member Allen Holdsworth, a board member of BetterInvesting and a director of the ILLOWA BuyStates Chapter.
"But we're not so worried about day-to-day, because we're long-term investors, " he said."And, in the long run, it's always going to go up."
The nonprofit, national organization, BetterInvesting, focuses on educating people on investing.Mr. Holdsworth's all-male chapter, MAD, has accomplished the club's three purposes: education, fun and making money, he said.
"Long term, we don't attempt to be day traders," a term given to those who play the swings of the stock market by buying and selling stock for a quick profit.
"We look at buying and holding stocks for a couple of years," he said.
The confidence they've gained in their investment decisions spills over in their personal investing, Mr. Holdsworth said.None of the members use the club's activities for their main investments, he said.Yet in the 10 years MAD has been operating, it boasts about a 10 percent or better growth rate, he said.
They never lose sleep over one day's performance.
"It's one day," he said.
But sometimes they make decisions they wish they hadn't.The group sold Deere's common stock when they thought it had peaked at $92 a share.They made good money, Mr. Holdsworth said.
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