Actively investing in the stock market can be intimidating for most people. There's a steep learning curve and the constant fear of losing money. But a group of women in Bismarck faced that fear head-on, pooling their resources and knowledge to take on the stock market. On this date in 1999, Fargo newspaper readers learned about the Big Time Operators Investment Club in Bismarck. Known as the BTO Club for short, the twenty women met monthly to discuss stocks they were researching and vote on what to buy and sell.
Investment clubs are small groups of people who pool their money to invest in the stock market. Members study different stocks, mutual funds, and bonds, then meet to decide how the group's money will be invested. The first investment club was formed in 1898 in Texas as a way to spread the risk of investing.
In Bismarck, investment clubs became popular in the 1970s as more professional stockbrokers moved to the area, and media coverage of the stock market increased. The BTO Club was founded in 1973, with most members being housewives who wanted to learn about the stock market in an affordable way, paying just a $20 monthly fee for investing. One early member quipped that the main goal of the club was for women to learn how to handle their own money. This was echoed by members of another all-women investment club in Bismarck. Many of those women were divorced or widowed and had learned firsthand how crucial it was to make informed financial decisions.
The BTO Club proved to be successful. By 1993, its portfolio was worth $73,000, including stocks like AT&T, IBM, Harley Davidson, and Walt Disney. On this date in 1999, the portfolio had grown to over $331,000. The club now included working women and retirees. Each member researched one or two stocks in the portfolio and paid a $35 monthly investment fee. The women credited their success to a buy-and-hold strategy. Most importantly, they learned how the stock market worked—and had fun doing it.
Dakota Datebook by Trista Raezer-Stursa
Sources:
- Associated Press. “Many Find Stock Market Intimidating and Frightening,” Grand Forks Herald, November 16, 1993, pg. 5B.
- Associated Press. “Women’s Group Enjoys Stock, Bonding Experience,” The Fargo Forum, March 26, 1999, pg. A6.
- Author Unknown. “Investment Clubs and the SEC”, U.S. Securities and Exchange Commission, https://www.sec.gov/about/reports-publications/investor-publications/investment-clubs, accessed February 26, 2025.
- Conrad, Marc. “Women Investing in their Know-How,” The Bismarck Tribune, September 12, 1989, pg. 6A.
- Russell, Vicki. “Couple Finds Hobby Interesting Diversion,” The Bismarck Tribune, October 24, 1982, pgs. E1, E3.
- Schmidt, Steve. “Investor Clubs Grow by Leaps and ‘Bonds’,” The Bismarck Tribune, October 7, 1972, pg. 15.
- Smith, Sharon. “Investment Clubs Beat the Market,” The Bismarck Tribune, March 23, 1999, pg. 1C.
- Urquhart Stewart, Justin. “Investors are Slowly Joining the Club,” Independent, https://www.independent.co.uk/money/spend-save/investors-are-slowly-joining-the-club-1584788.html, June 2, 1995, accessed February 26, 2025.
- Voskuil, Vicki. “Women Learn to Invest in Stocks,” The Bismarck Tribune, November 27, 1986, pg. 2B.
