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Director HighlightWe are excited to bring you, our members and guests, the highlights from one of our chapter directors. We will highlight different directors periodically, so keep referring back to see all of us.
Allan is the current president of the South Carolina Chapter of BetterInvesting and the treasurer of the Model Investment Club. He and his wife started investing in the early 1980's. They had graduated from college and were just starting careers. They started investing when they bought two stocks on the recommendation of family. Those stocks were IBM, which they still hold, and International Harvester. International Harvester was on the Dow 30 at the time, but it taught them what the term "Reverse Split" means.
Allan joined his first investment club in the early 1990s, while he and his wife were living in Evansville, Indiana. His brother-in-law formed a club with his Kiwanis chapter and asked him to join. He became secretary of the club until it dissolved 10 years later. The club had several bank accountants,and a broker to work with us who just happened to deal mainly in banking stocks. Allan learned about how banks operate in that club, but their largest money maker was Cisco Systems, due to the growth and the regular stock splits. Those were the glory days. It was amazing while it lasted.
Allan and his family left Evansville in 2007, choosing to make a career move at the moment in time when Lehman Brothers decided to implode. They bounced a couple of times and ended up in Aiken, South Carolina. When the cash flow started again, he rejoined BetterInvesting as an independent member. Gretchen Hurt sent a note to me in March of 2013 and invited him to a free lunch in Columbia. At that lunch they kicked off the new South Carolina Chapter of Better Investing.
Allan has been a director in the South Carolina Chapter since it was reformed, helping rebuild the chapter and working with clubs and individual investors.