Announcing a new meeting for Onyx (Bay Area Black Professionals)!

What: Onyx Black Community Investment Club Meeting [Nika's Event]

When: Tuesday, April 1, 7:00 PM

Where: Click the link below to find out!

Why: As Nika says, it's a totally cool idea.

Meeting Description: From Nika:
I'd first like to invite all of the big-stupendous-gregarious-over-the-top fools to join me April 1st to discuss starting an Investment Club. Yes I said fools, and no, I'm not talking about you April Fool's folks, I'm talking about the Motley Fool types (www.fool.com --an investment website).
I'm talking to those who are looking for a balanced financial diet of, spend a little money for a weekend in Tahoe, then spend a little money a month on themselves for the future, fools. That's who I'm talking to. All joking aside, I'm putting things together for an informational gathering next Tuesday, April 1, 2008 about setting up an Investment Club.
I'm thinking this would be a great opportunity to learn together how to invest and build wealth (http://books.google.com/books?id=vmkB1scgtN4C). The secret is compounding and time, to be more specific maximizing the power of compounding interest. (search "power of compound interest" on Google (or his oft neglected brother Yahoo) to find several examples or check out the motley fools take at
http://www.fool.com/school/basics/basics02.htm?source=ihprlklca0000001)
So the moral is, if you're in your early to mid-twenties it's very much to your advantage to join the investment club. If you're in your mid to late twenties, --eh you really, really should *think* about joining. And if you're *anywhere* in your thirties then, well I should see you there on Tuesday! (http://www.ahaanow.org/Images/Graphics/waiting.gif)
This is all assuming that you haven't done any investing (uhm, like me), If you have done some investing then GREAT! You should still join up and help the less fortunate out, and if this is what you do for a living, then heck, well, this is a great opportunity to join and impart some knowledge from solid experience... or sit back at watch us take a few knocks (but let us know when to throw the towel in, will you!)
And for those in the, "I put my money in my company 401k and, forgetaboutit," camp --well, there may be some investing knowledge that can be applied to even 401ks, as well as some advantages in investing outside of the company 401k (check:> http://mutualfunds.about.com/cs/retirement/a/401kmistakes.htm> for a few tidbits).
Besides this investing stuff is long-term, and has outlived many a company tenure and the knowledge gained now could be mighty powerful inthe future. Again, I'm no Investment Guru, Ninja, Wizard or word Du Jour for the epitome of excellence, and neither need you be. I simply think that wealth starts with the whole, "a penny saved is a penny earned," adage (http://www.kokogiak.com/megapenny/1.asp) . Thus, knowing the game and knowing where to save the pennies, we could possibly change that that to, "a penny saved is a penny earned plus 5% compound interest." That my friends is wealth. All in all I don't think it will take too much to start investing, from what I've read we're looking at an estimated $20 - $30 (only 2,000 - 3,000 pennies) minimum a month. http://www.fool.com/InvestmentClub/InvestmentClub05.htm somewhere in the middle).
I understand that money used in investment comes from the same pool as personal savings, credit card debt, mortgages, kids and all that jazz... I don't plan on getting into personal finance specifics, but at the initial meeting we can talk about how to fit investing into broad financial mixes. We'll, talk about the goals and the structure of the club, type of possible investments and strategies as well as educational opportunities (like speakers or presentations).
If you've read this far then; hey thanks for reading and I hope you're interested in joining because I think this is a totally cool idea. I've got a restaurant we can meet at in Mountain View that's HUGE. It can hold the WHOLE, ENTIRE Onyx group (hint, hint!)
So have courage (http://www.youtube.com/watch?v=SxJE1InN2XQ check out Les' thoughts on this) and RSVP "Yes" on the calendar and come find out more. Oh, invite friends too, anyone can learn with us. (And please do not use anything I've written here legally against me (like suing Nika Jones). There is no GUARANTEE we will make money, although there is the reasonable expectation we will.)>> Best Regards,>> Nika Jones>>

Learn more here:
http://blackbiz.meetup.com/233/calendar/7603538/