Page 21 - Equity Movement Magazine-Issue2

STOCK RESOURCE

Never Spend Change:

Lessons from a Successful

Self-Taught Investor

By: Christina Sanders

ne day, self-taught investor and business discovered that he had over $3,500 in loose change,
owner, Dan Evans came across a group of which he then after careful research put into the stock
OAfrican-American motorcycle enthusiasts, market.
dressed head to toe in Harley Davidson gear. The
couple strutted into a store proudly in their gear as In addition to never spending change, Evans also
their bikes sat parked. As Evan glanced outside at the suggests investing in stocks that you plan to stay in
two Harley Davidson bikes and back at the couple long term. While many people are scared away by the
standing in their branded gear he thought to himself, ups and downs of the market, Evans suggests
why don’t more African-Americans own stock in the selecting a stable company and being patient. “Don’t
companies whose products they use and wear liquidate it. I’ll never sell it. I plan on passing it to my
proudly? “The stock is nothing but $45, that’s less son” says Evans.
than the outfit,” said Evans as we sat in a Starbucks
discussing how he began investing in stocks. In addition to investing in stocks using saved up spare
change, Evans suggests starting an investment club
According to the Nielsen report “Black Dollar Matter: with your close friends who have similar goals. “I used
The Sales Impact of Black Consumers,” African- to be a part of an investment club. We would pool
Americans are responsible for roughly $1.2 trillion in our money on a monthly basis and invest in stocks.”
purchases annually in spite of being only 14% of the Evan started the group with an even amount of
population. However, although on the rise, African- investors and each investor would contribute $100,
American participation in the stock market continues monthly. “It worked well. It was an even amount and
to be low and is believed to be contributing to the no one could ever buy more equity in the group so
widening wealth gap. that it was fair.” Although the group ended up
breaking up, Evans says that it’s a great way for
Evans believes that many African-Americans can begin beginner investors to buy their way into bigger deals,
affecting change from investing in brands if they that they may not have the capital for by themselves.
adjusted their purchase habits from the purchase of
their favorite brands’ products to the purchase of their
favorite brands’ stock.

While most American households regardless of race
believe that it’s difficult to find discretionary income
for vacations and other luxuries let alone investing,
Evans insists that Americans and their families can
begin investing by making small spending
adjustments that will go a long way. “A teacher
taught me to never spend my change and I never
spend change,” says Evans. After learning the
concept, Evans began purchasing 5-gallon water jugs
and filling them with his loose change that he made
from purchases. After filling just one jug, he

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