Chicks Laying Nest Eggs : How 10 Skirts Beat the Pants Off Wall Street...And How You Can Too! [Hardcover]

Karin Housley (Author)

Book Description

Publication Date: April 10, 2001

When Karin Housley asked the financial expert who was handling the family investments to explain his strategy to her, he said, "You just wouldn't understand." Grrrr, she thought, and with that an investor was born. But Karin didn't want to head into the stock market's uncharted fiscal wilderness alone. She called ten friends — ten women ranging in age from twenty-nine to sixty scattered across the United States, all concerned about their financial futures — and urged them to start an investment club with her.

They called themselves the Chicks Laying Nest Eggs Investment Club, held their meetings in an online chat room, and used the Internet to research, buy, and sell their stock choices. After two years in action, the Chicks are beating the pants off Wall Street's wise men. Their philosophy: Girls just wanna have fun, but Chicks want to learn something — and make a few bucks — along the way. Chicks Laying Nest Eggs is all about doing it all! And they've been spreading the gospel on their investment club website — www.chickslayingnesteggs.com — showing Chicks everywhere how and why to invest.

Okay, okay. The Chicks know what you're thinking: "Yeah, right. An investment book that I can understand. Like that can happen." Never fear! The Chicks didn't know a stock from a stocking when they started their club, but that didn't stop them from learning (fast) or beating the market (big!) right out of the coop. And they didn't know a thing about computers, either. Here in Chicks Laying Nest Eggs, founding Chick Karin Housley starts right at the beginning and recaps everything the Chicks learned on the way to becoming Dow Jones divas.

* What this thing called the market is and how it works;

* How to start your own investment club, buy stock in some good companies, and build your own Chick-worthy returns;

* All the essentials (and none of the double-talk) about the S&P, NASDAQ, market cap, mutual funds, bears, bulls, and all that other stuff that you always thought you'd never understand;

* How to get a computer and get your club online so you can meet anytime, from anywhere — without crashing your too-busy schedule, or even getting out of your pajamas;

* And, most of all, how to have a blast while getting your money to work harder for you than it ever has before.

Chicks Laying Nest Eggs is the simplest step-by-step guide to investing in the stock market ever put together. It is for every woman, because the time has passed (if it ever really existed) when any woman could afford to be ignorant about her finances.

Editorial Reviews

Amazon.com Review

Beardstown Ladies, move over. From the sassy, wisecracking wife of pro hockey player Phil Housley (and mother of four) comes an investment-club how-to for all those postboomer, pre-X women who not only bring home the bacon (in an SUV, most likely) and fry it up in a pan, but who want to find greater financial autonomy and profits than mutual funds can provide--and in the process do some "You go, girl!" bonding that would put those chatty gals of The View to shame. Granted, when you cut out all the schmoozing and gabbing in here, the actual take-home advice and guidelines on group online investing could be reduced to the size of a TV-listings blurb for Ally McBeal (to which Housley refers with near-obsessive frequency).

But having said that, it's admirably straightforward and explained in plain English, especially for a genre glutted with so-called "easy-to-follow" volumes that are nonetheless incomprehensible. And, since this is a guide to starting and maintaining a fun and social investment club as much as it is to mastering the stock market, it's got just as much kitchen-table advice on putting together a gang of gals, convening them via Internet bulletin boards, and keeping club communication and camaraderie alive as it does on picking the right stocks, finding a broker, following their progress against the S&P 500, and knowing when to buy, sell, and hold. Housley's writing style is caffeine-charged, bordering on insane, and the bulletin-board conventions and online meeting notes she shares from her own group are so full of references to maternity due dates, hectic suburban-mom itineraries, and free-floating cravings for everything from Quarter Pounders to Tom Cruise that you sometimes feel like you're trapped in a programming loop from the Lifetime Channel.

In truth, though, it's that very jotty, gabby style that actually makes the book as least as much fun to read as Housley makes starting up a club sound like. And lest you're thinking only the wives of NFL hockey players have the spare cash for such hijinks, Housley actually gears most of the book toward women who can only invest as little as $50 a month. If you can't set aside that much toward your future financial autonomy, you're probably putting it all in the hands of some man who's gonna stiff you anyway, girl, Housley seems to be saying. And it's that blend of sisters-doin'-it-for-themselves practicality and pop-level empowerment that makes Chicks the kind of smart, fun group-investment guide that even some of us NYSE-illiterate roosters out there would do well to read. --Timothy Murphy

From Publishers Weekly

For women uneasy with finance, but eager to start or join an investment club, this excellent introduction boasts practical information that's entertainingly presented. Housley, wife of a pro hockey player and mother of four, started the Chicks Laying Nest Eggs Investment Club with a group of friends and relatives after she tried reading investment books but found them dull, and her financial planner told her she'd never "get it." Now the club steadily beats the S&P 500. No Beardstown Ladies, the smart, feisty and funny Chicks discuss everything from pregnancy, moving and illness to the stock market. The women communicate online and hold one annual retreat. Their investment philosophy consists of a dozen tried and true strategies, including buying a familiar company, looking for a leader in its field, checking a company's cash flow, etc. Investment club essentials tax issues, bookkeeping, etc. are helpful, but most memorable are the Chicks' e-mails: "I finally feel like I can do an S&P report without crying. Sheez, it's been a roller coaster here lately. Jana, give us some of your pregnancy stories to pick us up a bit!" However, sophisticated investors may find the presentation irritatingly cutesy. Housley says many husbands won't support their wives' financial initiative, so women shouldn't tell them much until the clubs are active. In today's dual-income era, such outmoded suggestions can rankle. Still, this book is a welcome addition to investment literature.

Copyright 2001 Cahners Business Information, Inc.

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Product Details

• Hardcover: 288 pages
• Publisher: Crown; 1 edition (April 10, 2001)
• Language: English
• ISBN-10: 0609606972
• ISBN-13: 978-0609606971
• Product Dimensions: 9.1 x 6.2 x 1 inches
• Shipping Weight: 1.4 pounds
• Average Customer Review: 3.1 out of 5 stars  See all reviews (33 customer reviews)
• Amazon Best Sellers Rank: #864,695 in Books (See Top 100 in Books)

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22 of 24 people found the following review helpful:

3.0 out of 5 stars Inexpensive, Fun Ways to Experience Stock Investing, April 18, 2001

By 

Donald Mitchell "Jesus Loves You!" (Thanks for Providing My Reviews over 109,000 Helpful Votes Globally) - See all my reviews
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This review is from: Chicks Laying Nest Eggs : How 10 Skirts Beat the Pants Off Wall Street...And How You Can Too! (Hardcover)

Millions of investing books are bought or read by people who never get around to buying any stocks. Karin Housley, busy mother of four and wife of professional hockey player Phil Housley, found that the solution for her was to form an investment club with her friends across the country. Occasional face-to-face meetings would be supplemented by having a bulletin board on-line, regular e-mail, and now they have a web site where you can visit to keep up-to-date with them and share their results.

The book is the first simple explanation I have seen for how to take all of the little steps needed to start an investment club. By working together, individuals can have a good time, try their hand in the market, and get a lot accomplished with little money and time spent. If you like company when you make financial decisions, an investment club is much less expensive than a full service broker.

I graded the book down by two stars for two reasons. First, Ms. Housley strongly argues for trying to beat the market averages and crows about how easy it is. Seeing the club's stocks, I suspected that things had fallen down since the book was printed. As of April 10, 2001, the club's stocks had lost 16.56 percent while the S&P 500 had lost 7.27 percent. So the club members during the bear market greatly underperformed, having significantly outperformed during the waning days of the bull market. Only time can tell how they will do in the long run.

I think that most people should have almost all of the money they plan to invest in stocks in indexed, no-load mutual funds. Since this investment club is just a small part of the member's total investing, no harm is done.

However, do take the crowing here with a big grain of salt. Most people would not even claim to have outperformed the S&P 500 with a track record of less than 5 years. This club has been going for less than 3 years.

Second, the book is very badly organized, poorly written, and hard to follow. There are brief summaries at the ends of chapters, but the material is very circular. Brief lists of key points at the end of each chapter help. The book has a solid glossary. Now, I did not grade the book down more because any book by the typical head of a newly formed investment club would probably have similar problems.

On the other hand, I do recommend that you read the book if you find it hard to get started with stock investments. I think you will find the book helpful, and I do not know of a better book to steer you to concerning investment clubs. There is an organization you should know about, The National Association of Investors Corporation (NAIC) based in Michigan, which can help you get started as an individual or as part of an investment club.

Here are the book's strengths. First, it explains financial concepts reasonably clearly. Second, it suggests investing principles that some successful investors use (such as the Gardners, Warren Buffett, and Peter Lynch). Third, it has a fine glossary. Fourth, it is interesting to read about the women in the club, so there's a personal story line that adds zest. This also gives you a flavor of the personal benefits of being in a club, aside from your investing results. Fifth, the book doesn't assume anything. You get help with everything from purchasing a computer to figuring out who to invite into the club to how to file your tax returns. I admired the thoroughness of how the small details were handled.

The club was formed in part because Ms. Housley feels that women need to be able to handle their own finances and develop their own financial security. I agree. So the book is pro-female. The terms used make it sometimes sound like women are being put down. I don't think the book is intended that way, so give her the benefit of the doubt.

In the book's comments, Ms. Housley refers to owning a mutual fund and trailing the averages as a bronze medal. Well, that's the level of performance they have now. She describes the indexed solution as the silver medal. Beating the market is the gold medal. I see almost everyone I know get bronze medal performance by trying for the gold medal. It's not easy to achieve gold medal performance. Less than one professinal investor in ten succeeds.

After reading this book, I suggest that you consider where else having friends to do things with would encourage you to get started. Exercise? Learning a new skill? Finding a better job?

The best way to learn is to get some experience. Start now!

7 of 8 people found the following review helpful:

5.0 out of 5 stars Chicks Laying Nest Eggs, April 21, 2001

By 

Nancy (MN) - See all my reviews

This review is from: Chicks Laying Nest Eggs : How 10 Skirts Beat the Pants Off Wall Street...And How You Can Too! (Hardcover)

I just finished reading Karin Housley's "Chicks Laying Nest Eggs" and absolutely loved it! She's witty and bright--and has taken a unique approach to educating women (and men) on investing (and starting an Investment Club). I have read many, many guides to investing...spent plenty of time on websites like E-trade, and the truth is, they never keep my attention and the advice is consistently contradictory. Karin has designed twelve, easy to understand guidelines for investing in stocks. It's a no-nonsense approach that helps new investors build confidence, while trying to navigate the market.

For the critics that criticize the "Chicks" performance recently, the philosophy is to buy for the long term...so that you don't need to spend every day agonzing over your investment decisions. By purchasing companies that you know and understand, with strong management and solid financials, you are setting yourself up for success in the future. And you can pay attention to the things that are most important in your life...your kids, your career, your hobbies, living life.

The book has wonderful stories about all the women in the Chicks Investment Club--the personal approach was refreshing, adds interest and has certainly motivated me to get a group of girlfriends to start a club of our own. In addition to investing, they've helped each other through the joys and tears that comes from life. They've supported charitable organizations and it sounds like they've created life-long friendships!

It's about time we see an interesting author that explains the complexity of investing to women, who quite frankly aren't all interested in becoming obsessed with investing--but rather interested in learning...sharing...and being empowered to create their own futures. Thanks Karin...your book is a treat!

12 of 15 people found the following review helpful:

1.0 out of 5 stars Don't waste your money!, July 9, 2002

By 

Lisa Hammond (Kansas) - See all my reviews

This review is from: Chicks Laying Nest Eggs : How 10 Skirts Beat the Pants Off Wall Street...And How You Can Too! (Hardcover)

The first problem I had with this book was the incredibly condescending attitude by the writer. Just because *she* was completely clueless about their family investments doesn't mean the rest of the *housewives* in the country are. She continually talked down to her readers and spoke absolutely horribly about her children. Whether she was joking or not, I found her style extremely offensive. This breastfeeding, clothing diapering, homeschooling mother who happens to love her children didn't fit into ANY of the stupid examples she used.

But I muddled through those first few chapters to get to the meat of the matter - The Chicks Dozen. This is the all-knowing formula that one must run each potential company through before buying the stock. The problem? It worked fine when the bulls were running full steam last summer and they went with primarily tech stocks. Now? Their portfolio is a total loser and they were hit hard. I mean HARD. I notice they don't even publish the numbers on their site any longer.

As it is now, I don't think ANY company would fit into their standards and, in fact, they've changed strageties completely (I mean a COMPLETE reversal!) and are now going with mutual funds. There was page after page in the book BASHING mutual funds and now they've realized that putting all your eggs into single stocks in this bear market just doesn't wash.

They may have beat the men on Wall Street for ONE YEAR, but they sure aren't clucking now. So save your money and check out their website to see their current strategies because they've changed their tune. You'll also notice that one of the members has already left.

Didn't anyone at the publishing company *read* this book with it's hogwash advice before publishing it?