Share club valuation @ 27 Feb 2022

BeautifulSunshine
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Re: Share club valuation @ 27 Feb 2022

Post by BeautifulSunshine » Wed Jun 15 2022 1:33pm

Beachboy wrote:
Thu Jun 09 2022 7:08pm
Through a stroke of luck the apathy seems to have benefited us slightly as our shares have improved a little bit recently (albeit a small amount compared to previous reductions).

A plan to wrap up the club does still seem the sensible option.
Just a bit of fun with pocket change.

In my humble opinion, would be beneficial to imutual as a company, if the imutual Cashback Investment Club continued, be it slow and steady.
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Re: Share club valuation @ 27 Feb 2022

Post by Beachboy » Thu Jun 16 2022 10:35am

AAAlphaThunder wrote:
Wed Jun 15 2022 1:33pm
Beachboy wrote:
Thu Jun 09 2022 7:08pm
Through a stroke of luck the apathy seems to have benefited us slightly as our shares have improved a little bit recently (albeit a small amount compared to previous reductions).

A plan to wrap up the club does still seem the sensible option.
Just a bit of fun with pocket change.

In my humble opinion, would be beneficial to imutual as a company, if the imutual Cashback Investment Club continued, be it slow and steady.
Ideally I would like to see the the CIC keep going, but in the last year we have had virtually no engagement from the members plus what you mention 'slow and steady' completely contradicts the agreed strategy we have for the club. We have found our position to be completely passive, not even really 'slow and steady'.

If there was at least some proper discussion of a way forward or proposals for a new strategy if required etc then I might be more encouraged but it appears everyone has lost interest (which is possibly understandable due to the current lack of general activity on the site). However there has been nothing. If other members do not post anything constructive in the next few weeks I will be looking to withdraw from the club regardless and let those that want to carry on do so (genuinely wishing them the very of luck).

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Re: Share club valuation @ 27 Feb 2022

Post by Richard Frost » Thu Jun 16 2022 11:58am

As an outsider, although an ex member, I feel that what I am about to say may be difficult and not sure whether I really have a right to put in my tuppenceworth. It pains me greatly to see this matter go on and on in the same way that it pains me to see imutual committing a slow form of suicide.

In the absence of any Meaningful input and especially the absence of any input from the Chairman. ( I accept that there could be a major problem of some description there and am surprised that there appears to be no other communication method except via here, or if there is it has not been attempted)

I would suggest that in the first instance a poll is created by the Secretary or Treasurer as responsible officers. With the suggestion that the club is wound up and that this is communicated to all members via email as well as within these forums. I would have thought a simple yes or no would suffice but with the proviso that it needs a 50% response from members. If a 50% response is not achieved then the club would be wound up anyway and all money refunded to member accounts.

I accept that this may go against any constitution and that that should be followed in the first case.
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Re: Share club valuation @ 27 Feb 2022

Post by BeautifulSunshine » Thu Jun 16 2022 1:11pm

Richard Frost wrote:
Thu Jun 16 2022 11:58am
As an outsider, although an ex member, I feel that what I am about to say may be difficult and not sure whether I really have a right to put in my tuppenceworth. It pains me greatly to see this matter go on and on in the same way that it pains me to see imutual committing a slow form of suicide.

In the absence of any Meaningful input and especially the absence of any input from the Chairman. ( I accept that there could be a major problem of some description there and am surprised that there appears to be no other communication method except via here, or if there is it has not been attempted)

I would suggest that in the first instance a poll is created by the Secretary or Treasurer as responsible officers. With the suggestion that the club is wound up and that this is communicated to all members via email as well as within these forums. I would have thought a simple yes or no would suffice but with the proviso that it needs a 50% response from members. If a 50% response is not achieved then the club would be wound up anyway and all money refunded to member accounts.

I accept that this may go against any constitution and that that should be followed in the first case.
Or Richard could step out of the shadows and take charge of the imutual Cashback Investment Club as Chairman.
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Re: Share club valuation @ 27 Feb 2022

Post by Richard Frost » Thu Jun 16 2022 1:17pm

AAAlphaThunder wrote:
Thu Jun 16 2022 1:11pm

Or Richard could step out of the shadows and take charge of the imutual Cashback Investment Club as Chairman.
He retired as treasurer, has not been elected as Chairman and if I remember correctly (more difficult as I get older) he withdrew from his membership.
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Re: Share club valuation @ 27 Feb 2022

Post by BeautifulSunshine » Fri Jun 17 2022 3:48pm

Richard Frost wrote:
Thu Jun 16 2022 1:17pm
AAAlphaThunder wrote:
Thu Jun 16 2022 1:11pm

Or Richard could step out of the shadows and take charge of the imutual Cashback Investment Club as Chairman.
He retired as treasurer, has not been elected as Chairman and if I remember correctly (more difficult as I get older) he withdrew from his membership.
Correct.

Correct.

Incorrect.
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Re: Share club valuation @ 27 Feb 2022

Post by Beachboy » Fri Jun 17 2022 4:53pm

In terms of the Treasurer technically I have taken over by in practice have not really been able to so so due to various issues that Richard, Andrew and I have been trying to resolve. For example despite our best efforts I have not been able to obtain access to any of the bank accounts (due to bank procedures which have not been helped by covid restrictions plus also that fact that attending in person together is not practical due to the large geographical distance). In addition some of the Imutual back office systems, which Richard was teaching me needed tweaking because he had higher level user access. Andrew and I were discussing utilising another, hopefully simpler system, but he unfortunately seems to have gone unusually very quiet. I genuinely hope he all is ok.

Obviously as stated, due to the reasons mentioned, I am inclined to agree with Richard's suggestion that we wrap up the club - unless of course there is sign of meaningful engagement. Failing that I am happy to leave and let those that want to carry on do so. 🙂
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Re: Share club valuation @ 27 Feb 2022

Post by pieman » Sat Jun 18 2022 11:17pm

Personally I would be sad to see it go, as it has been very engaging looking at the various share suggestions, and seeing people far more knowledgeable discuss the differing merits of each option.

I think also it is one additional thing that Imutual has that nobody else does, which in better times may attract more people to the site.

(Just a thought, perhaps because we are not currently in 'better times', perhaps now is the time to buy shares??)

However, I know that it is costing a certain amount of money per month to keep it open - combined with the lack of engagement, and the difficulty in 'earning' money to put in it (are there any working 'dailies' left on this site now?) - so perhaps it is worth looking at ways it can either be 'suspended' for a few months to try and stop paying fees, or even closure.

As I only have a relatively small amount invested, (about one month's fuel bill!!) closing it or keeping it open will not greatly affect me either way - but I would prefer to keep it open if possible (and financially viable.)
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Re: Share club valuation @ 27 Feb 2022

Post by richard@imutual » Sun Jun 19 2022 12:56pm

I'd certainly suggest keeping the bank account open, as that costs nothing and was the biggest hassle to setup initially
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