The 12 women in the Robinson Barracks living room weren't talking Tupperware. They were debating dilution values, recommended buys and earnings reports. Created in June, WIGS is an investment club with a twist that fits the transient lifestyle of military spouses.
Similar groups pool their money to buy stocks, and members own shares of the group's portfolio.
When they move, they no longer have input into that month's buy decision but can follow the club's recommendation through e-mail and continue investing. We had to find something new. Since the group formed, each member has bought about six stocks, but they're not tracking which have been the biggest winners and losers. Clubs like this have been popular for years and are a great way for people with little investment smarts and only moderate income to get into the stock market, said Riley Crothers, a spokesman for the Security and Traders Association, a New York City-based trade group for individual brokers. Crothers estimated that more than 100,000 such organizations exist, and new ones form daily.