ShareSoc
INVESTOR ACADEMY

Investment Forums

Electronic “Investment Forums”, aka “bulletin boards”, “discussion forums” etc constitute a useful resource for likeminded investors to exchange views and report news. They are also a good place for posing questions and, sometimes, for learning from skilled investors. However, treat with caution! In some forums there is much “noise” and meaningless chatter, which can harm your investment performance by distracting you from the matters that really count. There is a good article and discussion on this here. Bear in mind that many posters post anonymously (sometimes for perfectly valid reasons, such as privacy) so one should be wary of their credibility. Over time, however, you tend to learn which posters can be trusted and which not, from the depth of content and supporting evidence for their posts.

Avoid comment focusing on short-term share price movement: no one can predict that with any accuracy, likewise anyone claiming to have non-public (inside) information should be treated with deep suspicion. If the information is true, they are committing the offence of market abuse by disseminating it unofficially, conversely, if not true it is also market abuse, by deception. Either way, they are attempting to do something illegal and should not be trusted. Of course, if non-obvious information concerning an investment is referenced to a reputable source, e.g. a newspaper, that information is public and there is no problem with disseminating it. Such references are often useful and enhance the credibility of the poster.

Another pitfall to be wary of when using forums is that they can lead to “groupthink” or “confirmation bias”. Discussion on a particular company will tend to be dominated by enthusiasts for that company, meaning that the focus tends to be on the bullish points favouring investment in that company. A shrewd investor, however, should consider the negatives as well as the positives. Posters pointing out such negatives are often shunned, ridiculed or assumed to be malicious by others involved in the discussion. Instead, their alternative points of view should be welcomed and considered – as long as backed up by evidence (the same applies to positive comment). It is healthy to have a balanced view of potential risks as well as rewards.

A number of widely used forums are catalogued below. Each has its own idiosyncrasies, but by giving them a try you can discovered which, if any, you find useful (click on the logos to try the sites). You may have to register with a site (free of charge) in order to access discussion content.

Most of the discussion on Stockopedia centres around Paul Scott’s daily “smallcap value reports”, in which daily news around smallcap companies is analysed and discussed. The standard of discussion and analysis is generally quite high and can be rather useful in identifying potential investment opportunities.

In addition, numerous articles are posted on a variety of investment themes. The site’s editors tend to focus on quantitative investment methods. You can filter the discussion theme to focus on topics or companies of interest to you.

Stockopedia discussion can readily be moderated, which helps to ensure that the discussion (generally!) remains civilized and pertinent.

The “Free BB” section of the ADVFN site contains one of the most comprehensive discussion forums for UK investors. The discussion is heavily oriented around individual companies, accessed by entering the company’s ticker in the box next to the “EPIC” button and then pressing that button. There is at least one dedicated discussion thread around pretty much every listed and quoted UK company. Beware though! The discussion is virtually unmoderated and the quality of much of the discussion is low. In fact, a very active discussion around a company can be a contrary indicator, suggesting that it is attracting inexperienced and speculative investors. Conversely, a paucity of discussion may suggest that a company is being overlooked and may be worth further investigation.

If you are able to assist us with a description of this site, please use the feedback form.

Group description:	All levels of experience welcome. A typical meeting agenda includes: – Macro Environment – Trades: Members review existing positions and identify securities with promising TA entry patterns or setups and with suitable risk/reward. Any security, long, short, futures, options may be considered. The convener takes actual positions in trades and maintains his own detailed ledger, accurately measuring performance of individual securities and cumulative activity. Members are notified by e-mail prior to the entries or exits that are decided upon. Following each meeting an updated copy of the ledger is circulated together with the next meeting agenda. Members may wish to maintain similar ledgers of their own but there is no obligation to do so. – Technical Analysis: Techniques and systems used in trades. Members can request discussion of particular aspects of TA.
Meeting Type/Venue:	Online via Zoom
Meeting Frequency/Timing:	The first Tuesday of every month from 7 to 9pm

Group description:	Following the launch of the SIGnet Technical Traders groups, it was identified that there were a number of members who use fundamental and other information as their main source of choosing companies to invest in, who would find some understanding of technical analysis helpful to identify good entry and exit points for their investments. This new SIGnet Technical Analysis in Support of Investing group is therefore being launched and we welcome members of all levels of experience to join.
Meeting Type/Venue:	Online via Zoom
Meeting Frequency/Timing:	There will be an initial Zoom meeting on Monday 29th April at 7pm to launch this group, please email info@sharesoc.org if you are interested in joining.

Group description:	A new in person group coming soon! Keep and eye on our Events page to register for the launch meeting.
Meeting Type/Venue:	In person
Meeting Frequency/Timing:	TBC

Group description:	Open to all investors / people with an interest in investing. Typical meeting will involve members talking about recent purchases, successes, failures and possible future purchases. Also with occasional visiting speakers or members making presentations on a topic of interest.
Meeting Type/Venue:	We aim to meet on the last Tuesday of each month in a private room at a pub in Playhatch. Start time 7pm with members encouraged to meet up around 6pm for a bite to eat / drink before hand, if their diaries allow.
Meeting Frequency/Timing:	7pm on the last Tuesday of the month. Meetings likely to last about two hours but with informal ‘overspill’ before / after.

Group description:	This group was set up as a forum to discuss companies in detail, each company is introduced by a member and discussion may last one or two hours. Membership is by invitation only and is for experienced investors.
Meeting Type/Venue:	The group meets at a venue in Waterloo, London.
Meeting Frequency/Timing:	Meetings are on Tuesday mornings at two month intervals.

Group description:	Our group members have wide ranging investment experience and work backgrounds. Discussion topics include reviewing our recent stock or collective investment buying and selling activity, plus what we are considering buying or selling and the reasons for our decisions. We also have a wider discussion on where we think opportunities might arise in the next few months and what we think needs to be avoided. Members occasionally lead discussions on specific topics such as recent events attended, articles or books of interest and sources of investment ideas and information.
Meeting Type/Venue:	During the pandemic our meetings were held on Zoom, but we have now resumed meeting in person at a location a few miles to the west of Colchester. Most meetings will now be in person, but it is possible that occasional meetings will be held on Zoom in special circumstances.
Meeting Frequency/Timing:	We meet midweek every two months. Zoom meetings run for about two hours from 10.30am and in person meetings from 11am until about 3pm, including a break for lunch.

Group description:	Our group is a broad church that contains investors of varying age and experience. We discuss stocks and investment trusts that we have bought, sold or are interested in and the reasons behind our decisions, and try to make sense of the ever changing investment environment. Our members backgrounds are diverse and include corporate banking, engineering, teaching and the leisure industry. Discussions are robust and challenging but tend to be to be informal, and do not generally involve agendas, presentations or detailed preparation. We are a friendly and approachable group who welcome investors of all levels – we just ask that you contribute, at whatever level you can.
Meeting Type/Venue:	Our meetings are held in a very nice pub near to South Ealing tube station (Piccadilly Line), not far from Ealing Broadway (District, Central and Elizabeth Line). Group numbers permitting (and assuming members are happy to purchase food and drink from the bar), we may also have access to a private room in the pub.
Meeting Frequency/Timing:	We meet every 2 months, usually on a Wednesday morning at 11am.

Group description:	An online group for those who are new to investing. Including topics such as how to buy and sell shares, unit trusts, investment trusts, exchange traded funds and diversification, tax and how to save it, pensions, portfolio management and research tools, other asset classes and basic technical analysis.
Meeting Type/Venue:	Online using Zoom.
Meeting Frequency/Timing:	Meetings are usually held on the 1st Monday of the month at 7:15pm.

Group description:	Group focused on active investing, primarily in small / medium cap UK equities.
Meeting Type/Venue:	Regular Zoom meetings interspersed with occasional face to face meetings and social activities in the North West.
Meeting Frequency/Timing:	Monthly on Saturdays at 10am.