Information for Prospective Members during the Covid-19 Pandemic Period
The information below outlines our former “normal” meetings, which we have had to adapt to comply with Dr. Henry’s recommendations. Initially we held several “Zoom” meetings in the afternoon for the convenience of Members, but in August the RVYC contacted us to say that we could now hold our Meetings at RVYC and enjoy the excellent dinner provided that we sat with three members per table and the tables were spaced out. We have now had three such meetings with an attendance of 11 or 12 members at four tables, since some felt it inadvisable to attend. However, we have not been able to have guest Speakers, and the Club decided not to invite prospective new members to attend due to the potential risk for all involved.
For prospective new members who would like to stay in touch, we would be delighted to send you the Agenda for our future Meetings, and of course to invite you to attend when life gets back to normal.
Those attending have appreciated the opportunity to re-acquaint with Members and enjoy a first-class dinner and wine to break the monotony of living today!
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The Club was formed in April 1998 by 33 members of the Vancouver Probus Club, and the Vancouver Rotary Club. It was spearheaded by the late Fred Cotton, Gordon Thom, and several members of the Rotary Club of Vancouver.
We each invested $3,000.00, and have held regular dinner meetings at the Royal Vancouver Yacht Club, Point Grey Road, on the last Thursday of every month, except for a summer meeting, usually of a social nature, and a Christmas party, with spouses/partners.
Our Meetings usually commence with a guest speaker such as Teale Linde, (see his website) Arnold Richter of Canaccord, and Jeff Davis and Ty Lee from Odlum Brown. Some of our Members have also researched and given presentations on Forestry, REITS, ETF’s and Energy.
Over an excellent 3 course dinner (including wine) there is open discussion on the speaker’s topic. One of our members reviews the result of last month’s $5.00 “bet” on the S & P Index, with the closest guess taking all!
Our portfolio is managed by Odlum Brown who provide a statement for each member every month, however all “trades” are proposed, discussed and voted upon by members at our regular meetings.
We currently hold about 12 stocks and one or two “watchdogs” are appointed to report each month on any happenings which are then reviewed by members and a vote taken to hold or sell by those present.
In 2010 we experimented with an idea which has proved to be extremely successful by providing interesting ideas, discussion and much participation – our “Round Table Review”. Members are encouraged to bring forward a stock idea (preferably where they have some inside knowledge or experience) and the ideas are posted on a flip chart and a brief description given by the proposer. Then each member (or guest) has 2 choices and the two stocks with the most “votes” are presented by the proposing members in greater detail for the next meeting.
Members are also expected to do some personal checking about those two stocks so that an intelligent decision can be made to Buy or Watch the chosen stocks at the next meeting. Members frequently use these ideas to research and add to their own personal portfolio.
The aim of the Club is to learn from the guest speakers and club members, many of whom have excellent stock market experience. You will learn a lot by seeing how different members have researched their “picks” and by doing your own research. Some members also have “inside” information which adds to the decision making.
Many individuals have their own portfolios managed by professional advisors and leave the investment decisions to them, usually after some discussion regarding the client’s objectives. However by learning firsthand the various aspects of investing from being a Club Member will give you the knowledge to be able to discuss and understand some of the advisor’s decisions.
A very important by-product of being a Club Member is that we have all really enjoyed the fellowship gained from being part of a small, intelligent, and convivial group who get together every month over an excellent meal, a glass or two of wine, and conversation.
There is a no-host bar at 6.00 pm, with the meeting starting promptly at 6.30 pm, with an excellent 3 course dinner including wine. Cost has recently (August 2020) increased to $80.00 for a guest/prospective member. The current annual cost for members is a prepaid $650.00 per annum, and since most members miss a meeting or two, it helps to pay for the wine. This cost will have to be re-visited when life gets back to normal.
If you decide to join us, we ask that you be prepared to:-
(a) – attend fairly regularly;
(b) – actively participate as a watchdog on one or more of our current holdings or proposed purchases (we do have guidelines);
(c) – bring ideas to the table from time to time (for the Round Table Review);
(d) – have access to the internet, and have some simple knowledge of obtaining data from sources such as GlobeInvestor.com. We can give you some direction in this matter.
((e) – make an investment at the market value when you join; (currently October 2020 about $4,500.00), (it may be down a little due to the coronavirus scare!) plus a pro-rated meal money amount. equal to the per-member amount of money in the separate meal money account. (currently assessed at $650.00 per annum paid in June). In case you are wondering why our invested cash has not increased substantially over the years, there have been several occasions when we have used our profits to pay for our meals, and have tried to keep the entry investment at a reasonable level !
We are there to learn by doing, make a return on our money, and enjoy the fellowship, which has been an important part of our Club. You may leave at any time, but there is a 5.00 % “departure tax” when you leave. Also when you leave, you receive back your exact share of the meal money account. Our Treasurer and/or one of our members also provides the appropriate tax forms each year for you to file.
You are welcome to come along to one or two dinner meetings (please bring a cheque for the $80.00 meal cost (yes – it has recently increased) which covers gratuities/taxes & a couple of glasses of dinner wine!) to see if you would like to join us. Meetings are usually over by 9.30 pm. Membership preference is given to members of Probus or Rotary, and ladies are very welcome – we have two at present – and membership is limited to about 26 members due to the accommodation at the RVYC, although up to 33 is stated in our Constitution.
Please feel free to call any member of the Executive if you have questions and are interested in joining the Club. A monthly Agenda will be emailed to you upon request to John Sullivan.
An application form is available from Membership Chair, Gabrielle Dickert, (Phone: 778-668-9361) email:gabrielledickert@gmail.com
List of Current Executive Committee (up to Apr 2022):
President: Hugh Robinson
Vice president: Roman Celelnycky
Membership Secretary: Gabby Dickert
Treasurer: John Bathurst
Investment Chair: David Clark
Vice Chair Investment Committee: Richard Landahl
Secretary: Terry Miller
Programs: Richard Landahl and Phil Webber
Updated as at January 6th, 2022