Welcome to Fulton Associates

Peter, Eddie, Arash,

Welcome to our investment club. I believe this is a first for all of us and I'm looking forward to sharing and debating ideas. I feel younger already - that's what kids these days do right? Blogging and all that. Actually I think blogging is the best way to keep track of investment ideas and other debates. I have partaken in another investing blog here http://www.stokblogs.com/ under the pseudoname beezwax over the past year.

I apologize for not consulting others regarding the name of the investment club. We needed a name for etrade and I just used my street name. I hope this is the beginning of a very successful partnership, but at the very least we'll have some fun. If we manage to make a few bucks, then it will all be worth it, but remember - twenty years from now the money we earn will have long been spent but bragging rights are forever!

I believe the first order of business is to generally agree to some ground rules - an investment club constitution if you will. We had circulated some preliminary rules around last year but we should all agree on the basic tenants before we proceed.

I'll start with these:

1. The first principle is not to lose our principle capital.
2. The purpose of the investment club is to make money.
3. We shall all share in gains/losses of the club in proportion to our share ownership in the club.
4. We shall initially initially start with equal dollar amounts invested so that our share ownership is also equal.
5. There will be no bias as to investment styles, or asset classes.
6. Investment decisions will be made together and will go to a vote if necessary with a simple majority carrying the vote.
7. In general we will not carry out short term trading strategies (i.e. daytrading)
8. Addition of new members to the club require a consensus of existing members ?
9. Initial investment holding period of one year minimum. After one year, any member may request redemption of his shares with written notice of at least 2 months

Feel free to add. The only one I'm unsure about is #8 the addition of new members. What I'd like to protect against is this morphing into something that we didn't intend to, but I'm open to suggestions.

Des