Cheers all and well done wooly between us our original starting picks threw up 5 winners both being on the last and two winners each shame we didn't chose diffrently but the first got us anyway ! Top picking wooly pleasure exchanging ideas with you Nearly forgot loads of places too
Well, on the plus side we can now relax and set about how to organise a long term syndicate with a a more leisurely contribution in preparation for the next big one. I'll start another thread shortly on this but my initial thoughts are: 1. Set up a secure account with a number of features, including but not restricted to: on line enquiry access for all members controls on payments and payees Will chase up details of one possible account and enquire on a couple of others to see which banks offer the best facilities. Meanwhile, views on facilities the account should have are welcome. 2. £1 share holdings. I will work out how many shares each member has to carry forward and someone(s) can verify 3. Offer regular monthly and ad hoc contributions to buy shares 4. Increase the marketing of the syndicate, once established and we are happy with it. This to allow us to select more horses 5. Build a system to administer the syndicate (I'm happy to do this but also happy if someone else fancies doing it). The system to cater for (inter alia) pledges, receipt of contributions, pay-out and/or reinvestment of any winnings and report on a regular basis the members and their holdings and %age of potential winnings to which the syndicate may be entitled. Ideas for facilities welcomed That'll do for starters
Good man ron we will get there 3rd time lucky and all that. If you need any help let me know if I can I will
Likewise uncle- Cheers to everyone and thanks for people trustin their money with myself and uncle!! We did a pretty good job between (if I say so myself) I did change my mind from Johnny Cavagin so would have been even more pissed if that was the only leg that let us down. But well done Uncle it was as you say a pleasure working with you
A further thought. If we expand the syndicate the admin and research could increase significantly and therefore it may be appropriate to make an admin charge for new members. What do existing members think of charging (say) a small admin fee based on Levels of Not 606 membership. It would not be fare to charge a % because the admin is the same for a £25 contribution as it would be for a £500 contribution. So for example, off the top of my head: Members of the first 2 NOT 606 syndicates administered by Reebs - No admin charge Other Members of NOT 606 - No admin charge if in from outset of new syndicate or elected*, otherwise £1 per contribution Not members of NOT 606 - £2 per contribution The admin charges to be allocated to a "Dummy" syndicate Member "Admin" in the form of £1 shares. Periodically the Admin team (Admin and Selection Team) would decide what to do with the shares owned (in equal shares) by Admin. In the event of changes in personnel the share of the person leaving the Admin would be transferred to their personal holding as recognition of services rendered. I'm actually making this up as I go along so I'll stop there and see what the reaction is so far. * This is to allow respected members of NOT 606 who decide to join later to not be subjected to an admin fee
f**k me. If we had had enough to add in Heis's selections too we would have missed out on the Jackpot by 2 heads
