Risky Business

we were like most clubs; our investment philosophy was to buy and hold. Now, we are trying to get in early on companies that are on the rise,” he says, but concedes, “Had I been offered the same opportunity to invest in the pre-IPO after 9-11, I would have been more hesitant.”

The group, which started with each member contributing an initial investment of $600 and paying monthly dues of $100, is now focusing on building up cash reserves to buy new investments. It is also looking beyond the stock market, considering the purchase of a Coverall North America franchise, a commercial cleaning service that has been ranked by BLACK ENTERPRISE as one of the top franchises for African Americans. Says Andrews: “There is too much investment opportunity outside of the market not to take advantage of it.”