The Beardstown Ladies Investment Club 

Summary: TheBeardstown Ladies Investment Club was neither the first nor the most original investment club ever created. There were actually four books written and sold by the Beardstown Ladies Investment Club but it was the first one that caused the most trouble. The funny thing about the whole matter, though, was that the Beardstown Ladies Investment Club were actually continuing to make sound investment choices both before and after the fiasco. The Beardstown Ladies Investment Club still operates to this day although half of the original members are now dead.  

The Beardstown Ladies Investment Club was neither the first nor the most original investment club ever created. It was, however, the most popular of all time and there are very few people who can disagree with that. The club consisted of sixteen women who fell not too far from either side of middle age. These sweet grandmothers had decided to start an investment club that would allow them to buy and sell stock just like the men who told them they couldn't do it were doing. These weren't professional stockbrokers, mind you, but just quaint and friendly gals who knew a thing or two about the market, the world, and people. Their investments weren't calculated studies but exercises in common sense. As Wal-Mart was quickly gaining speed and power the ladies noticed that the parking lot in Wal-Mart was always far more packed than the parking lot in the competing store across the street. As luck would have it the gals had hit on something that would pay off tremendously.

The Beardstown Ladies Investment Club continued on in this fashion throughout the eighties and by the time the nineties rolled around they were becoming very famous as people began to notice that the stock purchases of a group of old women were receiving nearly twenty-five percent in returns each year. This gave the women instant stardom and they began to appear on shows like Good Morning America as well as spots on radio stations across the country. The girls were a major hit and this of course led to the inevitable: A book deal.

There were actually four books written and sold by the Beardstown Ladies Investment Club but it was the first one that caused the most trouble. Some discerning accountants went through the book and began to be suspicious of the fact that there were no receipts or proof of any kind to corroborate the claims the women were making. When some experts did the math they realized that the Beardstown Ladies had in fact accidentally fudged the numbers. This caused the publisher of their books, Hyperion, to get sued and the women fell from grace quickly and violently. They were lambasted in print, on television, and on the radio despite the fact that the girls never expressly claimed how much money they made on their investments. Fortunately, the rise and fall of the club were both so quick and random that most people hardly remember the Beardstown Ladies these days.

The funny thing about the whole matter, though, was that the Beardstown Ladies Investment Club were actually continuing to make sound investment choices both before and after the fiasco. As a matter of fact the returns they made in the years following the suit were even better than what was claimed on the damning book jacket. The Beardstown Ladies Investment Club still operates to this day although half of the original members are now dead. One can still find the club, though, going through their ledgers and deciding on their next savvy investment move.