There is a growing body of work on the subject, however, one of the easiest and most enjoyable reads was published by the Beardstown Ladies, an all-women Investment Club. The book entitled, The Beardstown Ladies: Common-Sense Investment Guide, is a national best seller and available at most major retailer or retailers. The Canadian Securities Institute has also published a book called: How to Start and Run an Investment Club for Fun and Learning, available through its offices for $25.95.
In the US, the NAIC provides a solid base to begin your investment. To our knowledge, there is currently no comparable organization in Canada. However, we suggest that you contact one of the "Big Five" brokerages in Canada, who often have further literature on this topic. In the past, TD's Greenline has conducted seminars focused on the set-up of Investment Clubs.
With minimum monthly contribution levels as low as $20, almost anyone can participate in an investment club. All it takes is a willingness to learn and contribute on a long term basis and the ability to co-operate reasonably well with others. Investment Clubs are not for everyone, however, for those looking for a low cost method of investing and to learn more about the stock market, they seem to be a solid match. In a time of uncertainty, they are allowing more and more Canadian and US investors the opportunity to take control and feel good about their financial futures.