Photo by Michael Salerno
In 1995, a small group of alumni, friends since their student days, came up with the idea of starting an investment group. In February 1996, the group met with an advisor, Frank Wallington of Edward D. Jones, and formed a partnership called the Ramcorp Investment Group.
When one of the original members left the group, Henry J. Nardone Jr. ’70 entered in his place as a fully vested partner.
On a Saturday morning in March, the partners assembled at the University Club for the annual campus meeting that allows them to renew their friendship and talk about savvy investment strategies.
The group invests a portion of money every month through dividend reinvestment plans and dollar cost averages as they buy stocks. There are currently 13 stocks in the portfolio, including Pfizer, Home Depot, PepsiCo, Washington Trust, and Piedmont Natural Gas.
“The group has done very well since its inception in buying solid companies and taking advantage of dollar cost averaging and time in the market versus trying to time the market, ” says Hank Nardone. “We communicate on a regular basis to discuss issues as needed and try to have at least a yearly meeting at URI so that we can all gather, talk about the times we all had at URI, reminisce, have some fun, and oh yea, conduct some business.”
