Club future

Discussion of the proposed Cashback Investment Club

Moderator: CIC officers

richard@imutual
Posts: 6163
Joined: Wed Jun 23 2010 10:19am
Sharing: 2stars.png
Has thanked: 1880 times
Been thanked: 4097 times
Contact:

Club future

Post by richard@imutual » Sat Dec 05 2020 9:04am

Just wanted to give everyone advance notice that I'll be stepping down as club treasurer. Happy to help with a handover to someone else by staying on until April.

I can no longer justify the time involved in the treasurer's responsibilities. My original hope was that this club could build a significant membership and help attract new people to imutual in the process. In reality, the club has only ever comprised of people who were already active imutual members and we have had no new recruits for several years now.

It's disappointing given the huge amount of time I've spent developing the necessary tech and processes, but at some point you have to cut your losses.

It's worth noting that, with the takeover of Share.com, our investment account charges will increase from £2/month to £10/month. This is largely offset by the offer of one free trade a month BUT only if the club is in a position to take advantage of that.

I still think that there's a strong interest and potential in share tipping and trading amongst current and potential imutual members, but the regulations around investment clubs are a bit cumbersome. I'm thinking that perhaps a virtual trading league might be a better way to go.

A big thanks to our chair for all the time and energy he has put in, not to mention the invaluable suggestion of Pure Gold Mining! The fact that current members have (to date) made a profit in such extreme circumstances is a credit to the club and him personally :thumbup:
Thanked by: blythburgh, Sarah, pieman, Beachboy

blythburgh
Posts: 17737
Joined: Tue Jun 29 2010 7:14pm
Location: The Far East
Has thanked: 35005 times
Been thanked: 6106 times
Contact:

Re: Club future

Post by blythburgh » Sat Dec 05 2020 9:08am

As a member of imutual but not this section I would prefer to have Richard spending his spare time on imutual. But hope the club continues successfully
Keep smiling because the light at the end of someone's tunnel may be you, Ron Cheneler

Sarah
Posts: 5828
Joined: Sat Jun 26 2010 10:01am
Has thanked: 432 times
Been thanked: 4413 times
Contact:

Re: Club future

Post by Sarah » Sat Dec 05 2020 9:41am

It sounds like a largely thankless endeavour. Well done Richard.
Thanked by: kevinchess1

Beachboy
Posts: 1265
Joined: Tue Jun 29 2010 9:53pm
Has thanked: 1452 times
Been thanked: 1612 times
Contact:

Re: Club future

Post by Beachboy » Sat Dec 05 2020 10:22am

Sarah wrote:
Sat Dec 05 2020 9:41am
It sounds like a largely thankless endeavour. Well done Richard.
I am happy to say thanks and appreciate all that you and the chair have done to get the club to this point and in my view a success. 🙂👍
Thanked by: kevinchess1

garindan
Posts: 980
Joined: Wed Jun 30 2010 3:20pm
Location: Midlands
Has thanked: 486 times
Been thanked: 632 times
Contact:

Re: Club future

Post by garindan » Sat Dec 05 2020 12:27pm

I just wanted to add a couple of thoughts following on from the failed Ramsdens investment thread and Richard's post about "Club future".

Firstly, the next 4/5 months prospects:

- q4 2020 Pure Gold Mining first pour
- q1 2021 Pure Gold Mining drill holes update
- q1 2021 Growing impact of Covid-19 vaccine rollout nationwide
- BREXIT transition fallout

All the above *should* have significant impact on all three of our company holdings, with the latter pretty irrelevant to PGM and probably less so to Ramsdens.

Secondly, what could this mean?

Well all being good I am hoping the value of our holdings will grow considerably. This might be fanciful thinking of course but looking at the current prices and the impact all three of those above points could have I am thinking it is not that far fetched an idea. I'm talking about Bakkavor recovering to >100p, Ramsdens surpasing our original purchase price and Pure Gold rising on the back of solid results from going into production and greater potential building through confidence building drillhole mapping. If all these go favourably then we could see quite an impact.

What if it does?

It would obviously be incredibly great news. That aside, it would allow us to consider our options for the club. This would mean who wants out, who wants to commit to stay, what needs to be sold to cover exiting member unit payments, relooking at the rules and constitution, consider club roles, assessing what a future strategy should be and once the club's finances are clear how to implement it. This should mean thinking about how everything works now and how we would like it to be. This is of course if we still think having the club is worthwhile in the first place with however many members would be left.

What now?

I would personally much prefer all current members to stay members until end June 2021, greatly so in the case of the bigger holding members. That gives us the first half of 2021 to see what happens to our shares in the fallout from Covid and the end of the transition period. We should then be in a position to have discussions and make decisions. I do think it would be awefully unfortunate to shoot ourselves in the leg by having to sell any of our current holdings, unless the timing is right, so anyone can leave before then.

That's all I can commit to having as input for the moment, until the new year, but I think it would be really good to start discussing things now so please do get involved by posting your thoughts, wishes, ideas and so forth :thumbup:
Thanked by: Beachboy
Chairman: iMutual's Cashback Investment Club (CIC) - contact me about joining!
Visit the Cashback Investment Club forum to find out more.

Beachboy
Posts: 1265
Joined: Tue Jun 29 2010 9:53pm
Has thanked: 1452 times
Been thanked: 1612 times
Contact:

Re: Club future

Post by Beachboy » Sat Dec 05 2020 12:50pm

I have no plans to leave. We just starting to really make real progress both in terms of systems and returns 🙂👍

BeautifulSunshine
Posts: 26721
Joined: Tue Sep 14 2010 8:23pm
Location: [The Finest City in the World: London]
Has thanked: 192 times
Been thanked: 3686 times
Contact:

Re: Club future

Post by BeautifulSunshine » Sun Dec 06 2020 4:30pm

I'm in for the long haul.
[imutual Cashback Investment Club]

pieman
Posts: 456
Joined: Tue Jul 06 2010 10:02pm
Has thanked: 132 times
Been thanked: 502 times
Contact:

Re: Club future

Post by pieman » Sun Dec 06 2020 6:44pm

I have a comparatively small holding but am happy to stay in for the long haul.

Post Reply

Who is online

Users browsing this forum: No registered users and 7 guests