Electronic Village: Home of the TenPercenters Investment Club (TPIC) Web Page

Wayne & Shenita talk about TPIC! Updated on 1/10/1999...

He Ain't Heavy TenPercenters Investment Club (TPIC)
was created on Juneteenth 1993. It was the result of thirteen brothers/sisters from Prodigy Services wanting to create a 'solution' for the problems that negatively impact on the African American community. We had been discussing these 'solutions' on the various bulletin boards on Prodigy Services for the past year or so. Finally about ten of us (hence the name!) decided to pool our money and create bumper stickers that said, Buy Black: Support African American Businesses!. We gave out over 3500 of those bumper stickers all across the country. It was truly an uplifting experience. In fact, I'm saddened to note that I don't have any of those bumper stickers to save for posterity.

That on-line venture encouraged us to try something a bit more long term...and on-line investment club. Initially, about 15 of us pledged to actively work towards the creation of an on-line investment club, however, when it came time to sign the written partnership agreement there were thirteen of us involved. TPIC is a member of the National Association of Investment Clubs (NAIC).

The initial thirteen members were: Wayne Hicks (MI), Elizabeth Waller (NY), Elizabeth Hicks (CA), Victorious Belot (NY), Richard Holt (OH), Marvin Dulaney (SC), Lenora Casmore (TX), Tito Johnson (NY), Ronold Washington (NY), Tracy Brown (TX), Donna Reed (NY), Jean Nash (CA), and Clarence Barnes (GA). Bobby Douglas (NJ) came on board shortly thereafter. Victorious and Ronold both left the partnership in the first year.

We signed a partnership agreement. Our Financial Partner issues written financial reports monthly. We hold an on-line meeting on the 10th of each month which are led by the Presiding Partner. Our current portfolio consists of investments in the following companies: Black Americans Of Achievement (BAOA), Boeing, Corn Products, Granite Broadcasting, McDonalds, Microsoft, Pepsico, Tricon Global, American Century Mutual Funds (Vista & International Growth), and Charles Schwab Money Fund.

We try to invest in African American companies that are publically traded whenever possible. Sometimes it is difficult to find information on these companies. The Broad Street Journal is one place to go for current quotes and other relevant data on these firms.

TPIC is considering membership in the Coalition of Black Investors (COBI). Membership for investments clubs is $10 plus $5 per member (Min. 5 members).

We need to complete monthly financial reports for May 1998. We recently purchased 16 shares of Starbucks (SBUX) at $49.625/share. Additionally, we plan to create a TPIC listserv in the next few weeks. If you'd like to join the TPIC Listserv please send your request to Tracy Brown. Another point worth noting is that one of our founding partners, Bobby Douglas, made decision to cash out of the partnership. We will miss his input and fellowship. Join us in wishing Brother Douglas well on his future investments!

As of April 1998 our portfolio broke the 5-figure barrier. It now stands at $10,514 with a total investment of $8617. That means that we've had a profit of $1897 so far. This despite cashing out two members and suffering a huge setback on our BAOA holding.

We have been featured in Wall Street Journal article on African American involvement in the stock market. We were also included in a Brooke Stephens book called TALKING DOLLARS AND MAKING SENSE.

Feel free to e-mail any of the TPIC partners for additional information.