We now have 42 members which is an amazing feat! In four short months we have a huge amount of members from all over the globe. We have members across the United States but we just recently crossed the pond into Europe and even Africa.
While all of this is amazing, I KNOW we can take on much larger ventures with growth and expansion so I wanted to share something with you. I was doing some research online about the benefits of investing in a club and I found an article that speaks specifically to African American Investment Clubs. Without divulging too much, one thing that specifically stood out to me was when a club member, in response to a question about activist investing, said that “we want to see more than just ‘lip service” and “if we make it clear to these companies we are investing as a group, then we have a greater chance of influencing their policies.” I interpreted this as meaning that your money talks while BS walks. When you own a company you create solutions that solve your problems and make economic sense for the bottom line. When you don’t own the company you can protest and make Donald Sterling a billionaire and all you get is a pat on the head. Ownership, not getting people to like you, is the true goal.
I am not ignorant of the injustice that takes place in America but I think my problem is, since I am a finance guy, I always see the profit and the business opportunity where others only see a need for social action. I think that both are necessary but we cant go full force into one in spite of the other.
We can’t go full force social justice at the expense of economic activism because America is a capitalist country. That means that the dollar is mighty. So even after you get all that social justice, if you haven’t made any economic progress you will be far behind in the real race. (See The Wealth Gap Between Whites and Blacks). We protested and earned all that social change and unfortunately the community is no better for it financially. If anything we may be further behind, but that is another debate for another time.
Like I said, social justice plays a part but most people don’t go after economic solutions because they are not trained to see financial opportunities. My team and I are trained to see financial opportunities so stick with us and stick with the investment club core group.
Money is important. In fact I think it is actually MORE important than any amount of social justice. I am not alone in this belief. The bible says that money solves all things (Ecclesiastes 10:19). And Rick Ross said “being broke is the root of all evil”, *Rick Ross Grunt*. If we bind together like a bundle of sticks, we will have the money to solve all things and none of us will ever be broke(n). Pun intended.
Another member who was interviewed in the article said they built their club because “Solutions need to come from blacks themselves, instead of hoping for some external panacea,”! (Emphasis added). Woo. Things like that get me hype because when you allow other groups to fund your solutions you hand over to them the profit that comes with providing a solution.
For example, there are tax credits (Low Income Tax Credits, LITC) that incentivize developers to build low income housing. People in the projects think they are winning because someone gave them free or low cost and often times sub par housing, while the developer makes millions and his likely non black staff get the jobs and other befits.
Our community has some problems but with those problems come solutions and those solutions = wealth. First, it is important to understand that businesses are problem solvers, for a profit. Grocery stores feed you, cable companies entertain you, cell phone companies allow you to communicate, for a profit. Bringing it back home, the best way to solve OUR problems and grow your wealth is to solve your own problems while simultaneously profiting. I want you to solve your problems by becoming RICH. That probably should say, I want you to solve your problems and become rich. To do that we have to understand that the rich invent money. (Rich Dad Poor Dad). The rich invent solutions (money) while the poor whine and complain about whats not fair, and STAY POOR.
Lastly, I want to share this article because a lot of the great things the community is doing either go unrecognized OR are overshadowed by the ignorant. It is important that WE share and promote our greatness. I think the information here will be inspire you to join us and/or grow from the $25 lite version to the full fledged $100 membership!
If you are interested in joining the club, please respond to this email and we will set you up today!
Follow the link below for the article.