Andrew Allentuck

Friday, October 20, 2000

The Millionaire's Club: How to Start and Run Your Own Investment Club - and Make Your Money Grow!
by Carolyn M. Brown
John Wiley & Sons, 294 pages

This book, part of Wiley's series of black enterprise books, is focused on helping African-Americans develop their fortunes in securities markets. The intended audience of the book is too narrow, however, for the information advice can work for any group.

Ms. Brown assumes her readers need to learn a lot to get started in community investing and, to that end, she provides the basics of equity investing. Readers are offered the basics of what a stock is, how dividends are paid, what brokers do, how a broker should be chosen, how readers can learn about fundamental and technical analysis and how investment clubs can be formed and how they should keep records. The advice is generated from a U.S. perspective, but virtually all the information in the book is applicable to Canada.

For novice investors who want to work together to develop their portfolios, The Millionaire's Club offers valuable guidance. Experienced investors will learn little from it but hey are not the folks who tend to join investment clubs.