Scrooge Investing: The Bargain Hunter's Guide to More Than 120 Things You Can Do to Cut the Cost of Investing

Black Enterprise, Feb, 1996 by Donna Hermans

Saving money on commissions, fees and other investment costs can make a significant difference in your investment portfolios. To help you save, there's Mark Skousen's Scrooge Investing: The Bargain Hunter's Guide to More Than 120 Things You Can Do to Cut the Cost of investing.

The author has put together hundreds of cost-saving ideas for purchasing stock, real estate, art and collectibles in an easy-to-read, down-to-earth format. Skousen has also contacted several providers to furnish material to readers free or at a low cost at the mention of the book. The book includes names and numbers of discount brokers, specialized newsletters and investment services, even art dealers.

Skousen follows up his tips with personal accounts. He saved over 50% on the cost of a color print by buying it through a discount art broker rather than from an art gallery. His discount art broker's name is Michael Kuschmann, president of Fine Arts Ltd. (800-229-4322).

Scrooge Investing is guaranteed to put you on the right track to keeping your investment costs at a minimum. For example, Skousen points out that many childless, single people buy life insurance policies when they don't need them and often buy much more than they need. The book is divided into 18 chapters and has highlighted and numbered tips, making it easy for you to skim for ideas that address your particular needs.

Someone who is a scrooge investor, according to Skousen, always spends less than he or she earns, looks for bargain opportunities and identifies investment trends and opportunities ahead of the crowd.

The author also points out that the careful investor is always conscious of what he is buying, making sure not to give up something of value when getting something at a cheaper rate.