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Hi Dayana. I came across your article
about the trends in retro shoes and the respective rise
in certain brands' stock prices [Listen To Mrs. Peter
Lynch]. I myself am a woman who is interested in both
investing and clothes. Do you happen to know if there
are groups of stylish women out there who use their ahead-of-the-trend
knowledge to make money on the stock exchange? Tastefully
yours, L.C.
Ah, to combine a few favorite pastimes
-- and to use the profits from one to buy cute new shoes!
The idea of getting investing ideas by
first looking at the brands you like (the hair products
you use; the retailers where you spend your time and paycheck
-- or at least observing those who shop for sport) --
is an approach championed by the famous Fidelity Magellan
(FUND: FMAGX) mutual fund manager Peter Lynch. It was
his wife who told him to check out Hanes (which then traded
on the New York Stock Exchange), since she really liked
their L'eggs pantyhose -- and, even more important, every
woman she knew did, too.
Hanes turned into a "six-bagger"
investment -- a stock that went up six times its value.
Way to go, girlfriend! (There's only one Carolyn Lynch,
so other successful fund managers have had to employ other
secret weapons to find winning stocks, though Fool analyst
Bill Mann is quick to credit his better half for some
of his best stock ideas.)
The story seems so quaint these days.
After all, where else would you get investing ideas but
where you do your cardio? The mall! As far as getting
input from like-minded fashion plates, you can begin your
search online by looking up the companies that interest
you and reading the analysis from those who follow the
related sectors (try "consumer goods," "retail,"
"services," and "cashmere" to begin
with). You might be surprised what companies are publicly
traded -- everything from Gucci (NYSE: GUCG) to Gap (NYSE:
GPS) to Coach (NYSE: COH) to Chico's (NYSE: CHS). You'll
find research by plenty of female stock analysts, but
given Wall Street's stodgy dress code and inherent conflicts
of interest, I'm not sure they'd pass the "cute shoe"
test.)
The best way to harness that girl power?
Start an investing club -- may I suggest the name "Fashionista
Fools"? -- and invite women whose styles and smarts
you admire to join. Then you can divvy up the analysis
and share information on good sales and stocks at your
monthly meetings. Studies show that women do indeed invest
differently than men do -- often achieving superior returns.
Here's more on how to start an investment
club, as well as some reading that'll get you ready to
analyze stocks. With a little know-how and some reconnaissance
shopping, you'll be accessorizing your portfolio in no
time.
Happy stock (and shoe) shopping!
Dayana Yochim really doesn't spend all
her time at the mall, as her writing would lead you to
believe. That's because she's discovered Craigslist! She
owns none of the companies mentioned in this article,
but she's always hounding her co-workers to find out what
stocks are on sale. The Motley Fool disclosure policy
is a staple in all of our writers' closets.
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