WINDSOR HILLS : For Stock Tips, They Use the Club

Barbara Bramwell-Hutchinson was determined to conquer her fear of the unknown.

To do that, she started arming herself with books and information, but not about spiritual enlightenment or self-discovery. The Windsor Hills resident decided to demystify the stock market for herself and a group of African American women who had long been interested in investing but didn’t know how--or where--to begin.

A year after launching the Femmes de Fortune Investment Club, the group of seven is well-versed in financial lingo, has steadily accumulated capital and has purchased stock in two companies.

The group welcomes black women who want to invest but lack a vehicle to do so.

It’s a position Bramwell-Hutchinson understands. “None of us are financial wizards or anything, but all of us were thinking about the future and wanted to do something long-term,” she said of the group. “And I’ve always believed that women should have their own money, even if they’re married.”

Bramwell-Hutchinson, who has owned Middle Passage Press, a publishing company, since 1985, said she was inspired after reading an article in a business journal about a group of female investors who called themselves the Million Dollar Club.

Many women Bramwell-Hutchinson contacted expressed interest in joining the effort, which required monthly fees of $40 for club dues and capital pooling. After the dust settled and some members dropped out because of time and financial constraints, the core group numbered seven.

Dubbing themselves the Femmes of Fortune, the women got busy: Each one researched a company for potential investment, and the group formalized the partnership by obtaining a business license and membership in the National Assn. of Investment Companies, an umbrella organization for business and investment clubs.

They enlisted the aid of a stockbroker for investment in the companies they settled on, McDonald’s and International Telephone & Telegraph. The group chose the two after agreeing they wanted stable, low-risk companies that would grow steadily and most likely return a five-year investment.

The group recently made its initial investment of about $2,000 in the two growth stocks; any dividends will be reinvested.

Bramwell-Hutchinson said that being a business partner, writing by-laws and sharing decision-making about stock purchases has been a new and empowering experience.

“I have a business background. I made my first investment in mutual funds in my 20s. But I was scared to do this,” she said.

One of the decisions the group made was to exclude men because “men tend to take over,” said Bramwell-Hutchinson with a laugh. “One potential member insisted we needed about $20,000 to get started because that’s what her boyfriend said,” she recalled. “We decided we didn’t want to deal with that, with battling wrong, inflated notions and men putting two cents in.”

They also agreed to remain strictly African American. “All women need to empower themselves financially, but black women in particular,” Bramwell-Hutchinson said. “I felt it’s time for black women to do something with what they have. We need that sense of, ‘I’ve got a little money, but it’s working for me.’ ”

Club members range in age from the 20s on up. Angela Brazil-Collins, 29, said the common concern about a secure future makes for strong bonds within the group.

“It’s not like the old days, where you could count on a pension at a job you worked for a long time,” said Brazil-Collins, who is studying to be an elementary school teacher. “I’ve always wanted to do something like this. Investing used to be a big mystery to me. I figured you had to be a Wall Street broker, have a lot of money. But the more we investigate, the more we can invest.”

On Jan. 26, the club is holding a 7 p.m. anniversary and open house at Bramwell-Hutchinson’s home, 5517 Secrest Drive. Speakers include a representative from the National Assn. of Investment Clubs and a Prudential Securities broker.

Information: (213) 296-6331.