At the time of writing I am just preparing for what I must say is a well-earned holiday at our Caravan in Kessingland, Suffolk. My wife and kids have been up there for a fortnight already, and I hope they are looking forward to me joining them as much as I am.

However, when you are an official of 3 clubs, trying to fit holidays in around club meetings can prove a bit difficult. That is of course the same even if you are just a member of a club rather than an official. I am in the fortunate position of being able to choose, more or less, exactly when I want to go away; others, however, may have to take what's left after their bosses/superiors have snaffled the best weeks.

This effect on attendance at club meetings is never more pronounced than in this month, August, the peak summer holiday booking season (summer? I hope the weather cheers up for me, anyway!).

When the H&G club first started, we had said that as long as 50% of the members were in attendance, then we would have a "quorum" so that a meeting could take place. By the time the first August came round, H&G was 10 months old; every meeting prior to that had been fairly well attended. However, due to holidays, balmy weather and the usual summer apathy towards the market, only 6 members turned up, which was not sufficient to make a quorum. Consequently, any effort to research shares or bring information to the club was wasted.

We discussed a rule change at the following AGM which was passed; a quorum now only had to consist of 6 members to hold a meeting. I seem to recall H&G having 18 or 19 members then, so we weren't quite full. However, come the following August, the same happened, there were insufficient members to hold a meeting; this time only 4.

Now as other club members and officials will no doubt agree, there is nothing more frustrating than getting all the research ready, photocopying documents and press cuttings, obtaining company reports, whatever, and finding it has all been for nothing.

The decision was therefore taken at the next AGM to reduce the quorum number to 4, which we felt was the absolute minimum amount of people who would:

a) give a fair and balanced view on any issues to be voted upon, and
b) always turn up.

Now in a strange way, this has actually been known to help attendance figures. The members now know that their club funds could be in the hands of just 4 people -- depending on who the 4 are, this might mean that the entire portfolio is sold with the proceeds re-invested into some dodgy mining company or third world growth fund! Especially if the John Smiths is particularly good that night.... Well, not quite, but I'm sure you understand what I mean.

Last weeks meeting of H&G was hit by "holiday traffic" so to speak, but we still had 7 members there, although it must be said that it was the lowest attendance figure for some time.

The next Dirty Harrys meeting should be interesting. I am the Chairman, and am away, as is the Secretary, the Social Secretary, and at least 4 of the regular attendees. We know that at least 4 members will be there, though, so the Treasurer is going to be busy!

All new clubs that have started since H&G have had a quorum of 4 stated in the rules. It works well. Some clubs favour some sort of compulsory attendance rule, and have been known to dismiss members who fail to turn up without good reason or who miss three meetings, or perhaps who do not make more than 50% of the meetings, whatever. I am not convinced as to whether this is a good idea or not. I know that members will come if they can; many work in London, so they have to commute on our local railways, which to be honest are unreliable (anyone ever heard of the Southend -- Fenchurch Street line?) and in my experience, if you impose restrictions on people, it usually works against you.

However, what do you think? Does your club have a minimum attendance rule, or at least something similar?

Please post your comments onto the Investment Clubs board.

Happy Holidays!

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