Posted by Sean Flynt on 2004-03-25
The Lakeshore Investment Association at Samford University, celebrating its 40th anniversary this year, was featured on a CNBC broadcast on Friday, March 26. The association, comprised mainly of current and former Samford faculty, was recently recognized as one of the top-performing investment clubs in the nation. Its ten members, averaging 60 years of age, invest in 25 stocks and tend a portfolio worth approximately $700,000. Retired Samford professors Ruric Wheeler (the association’s president) and Leven Hazelgrove participated in a live interview on the CNBC program. "Because we keep good stocks for a very long time," Wheeler said, "we’ve realized an average cost-to-value growth of 313% over the life of our holdings."