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Women with Money
Published November 8, 2009
Since a group of 15 Brazoria County women formed the Women’s Investment Group nine years ago, investors everywhere have gone through some rough patches — most notably Sept. 11 and the more recent recession. But the Women’s Investment Group, nicknamed WIG by its members, has ridden them out.
“All our stocks are doing great. Now, some of them only go up a few cents, but they’re going up,” said Wilma Parkinson, who co-founded the group with her friend, the late Mary Myers.
That’s not to say it hasn’t been a little rocky.
“We had a lot of women get out, but the ones that have stayed are reaping in the benefits,” said Rita Spaulding, Parkinson’s daughter, who’s been involved with the group since it started.
“We’re down to six members,” Parkinson said. “Now we’re looking for new members.”
Group members individually research stocks during the month, then discuss what they’ve learned at a monthly meeting. At the meeting’s end, members vote on what to buy. They buy in units of $25, and each member can buy a maximum of $100 worth of stock a month.
Besides doing their own research online, the ladies in the club say they listen to their gut instincts, too.
“Women think differently than men,” Parkinson said. That’s part of the reason they’ve kept the group women-only.
“When we started, I would say three fourths of us were widows or single women,” Parkinson said. “We didn’t want men there; men intimidate women when it comes to stock.”
As a case in point, Parkinson said the biggest mistake the group ever made was not buying into Google. The group had decided to buy, but then changed their minds — on the advice of a man.
Group members took a course about investing, offered by Edward Jones, through whom the group buys its stock, Spaulding said.
“We wanted to learn about it, and I think it’s interesting,” said Patsy Cumbie, a charter member and the group’s secretary.
Parkinson agreed.
“We want to learn for ourselves, not have Edward Jones do it for us,” she said.
Some of the things members consider when researching a stock are how long the company has been together, how much debt it has and what its finances are like, and whether it’s expanding into different products.
“You want a company that’s diversified,” Parkinson said. “You want stocks that, if this end collapses, we’ve still got a company.” She and Spaulding both mentioned the importance of learning how to understand a company’s Price-Earnings ratio, or P/E.
“P/E is what you pay (for a stock) versus what you’re earning,” Spaulding said. “The lower the P/E, the better it is.”
The stock market isn’t as complicated as people might imagine, group members agree.
“I don’t think it’s intimidating,” Cumbie said. Besides, it’s a way to plan for the future.
“It’s a great way to save,” said Mary Kemp, a charter member and the group’s treasurer. “We study our stocks and feel like we’ve gotten some pretty good ones.”
“It lets us invest and get involved in your future,” Spaulding said. “It is just for women, and it empowers us to take control of our retirement.”
Members agreed they are in the market for the long haul.
“We don’t buy and sell. We buy and hold,” Parkinson said.
The Women’s Investment Group doesn’t buy stock in November or December, so the next opportunity for women to join the club starts in January.
“We have you came to two meetings before you join,” Parkinson said. “On the third meeting, we will vote whether to accept you into our club.”
The monthly meetings are all business, but members do take time before and after the meetings to get to know each other. Also, during November and December when they’re not buying stock, they get together for nights out.
“It’s a fun club,” Parkinson said. “We’re all like family now.”
MONEYMAKER
• The Women’s Investment Group meets at 7 p.m. second Mondays at Lake Jackson Library. The next meeting is in January. Call Wilma Parkinson for more information at 979-480-0609.
Mary Openshaw is a features writer for The Facts. Contact her at 979-237-0155.
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