Reading for Profit Makes A Whole Lot of Sense.

Members of the Sistah Girl Reading Club never know what they'll be reading next, for at this Miami, Florida book club, the monthly hostess rules the reading list. "The book title is not known until announced by our hostess," says member B.J. Johnson. "This leaves an element of surprise to our monthly selections."

As individual members introduce a variety of literature, the club's cumulative reading list is branded by the group's diverse makeup and African American titles top the list. But when member Sherryl Weathers introduced financial literature after listening to a stockbroker on a local radio program, the group was so surprised, it split right down the middle and the Sistah Girl Investment Club was born.

Literature Yields Investments

Unlike the book club's informal meetings, the Sistah Girl Investment Club, a member of the National Association of Investors Corporation ("NAIC"), is governed by a strict set of bylaws. Investment terminology is introduced to members through the compilation of an investment glossary and the reading of financial literature. While one member, Cassandra Allen, cites The Nearest Little Guide to Stock Market Investing by Jason Kelly (Penguin, 1998) as an easy-to-follow reference guide, B.J. Johnson credits Black Enterprise magazine.

"We read investment literature and subscribe to several magazines," says member Annette Breedlove. "Financial literature is an invaluable teaching aid." The reading group is a venue for reading and sharing one's feelings, but "the investment club is a learning opportunity," says Johnson. "Members pool their money and invest in stocks. They attend regularly not only due to financial expectations, but also because we are new at this and there is much to learn." If this club is any indication, today's reading groups often transcend the discussion of plot, character and story line as financial literature finds a home on a number of reading lists.

Money Talks

At the Aspirations Book Club, the indicators prove true. Founded to read books on the African American and Caribbean experience, the group has discussed literature by authors from J. California Cooper and Octavia Butler to Akosua Busia and Tananarive Due. Yet after one club meeting, "the discussion took a turn to investing," says member Rose Chaney. "Whether it was a subject in one of the books we were reading is uncertain. But we became enthusiastic about investing and the rest is history."

The group has evolved into the Aspirations Book Club and Investment Group and now holds a dual purpose. "We're committed to reading and discussing fiction and nonfiction works, and expanding our knowledge and understanding of planned strategic investment ventures through education and long-term investments in stocks and other entities," explains Chaney. "We hold highly that African Americans should invest and pass it on to our children, who are our investments to the future. Literacy is the key."

Risky Business

Tara Lawrence has her own views on literacy and investing. "Growing up, I wasn't exposed to the stock market," says Lawrence. "It was always about saving and putting money in the bank." After reading a magazine article on investment clubs, she fine-tuned her thinking, solicited members of her reading group, family and friends to start Nubian Investors, a New York investment group. "We don't know about the stock market. It's not taught in our families. The market was always considered too risky."

"Learning about investing has proven beneficial to the group as a whole as well as individually," says Lawrence. "Many of our members now maintain their own portfolios." The group was featured on a segment of CBS's investment program, "Market Watch," that related to African Americans and investing. "It's easier in a group than going it alone," proclaims Lawrence. "In a group, people can feed off of each other. A group gives you the incentive and encouragement to continue each month."

For reading groups looking to gain more economic knowledge and diversify their literary portfolios, there are a number of books that can help you get started. With these handy guides at your fingertips, reading for profit suddenly makes a whole lot of sense.