A Penny Saved... is impossible

About the Book

This book is written for the beginning investor. It covers the important steps to follow to invest your own money by first understanding the value of saving, investing, and the miracle of compound interest. It introduces the reader to the mutual fund, one of the true wonders of the investment world. It stresses the important decision to diversify and allocate your assets in a manner appropriate to your needs, time-horizon, and risk tolerance. Reprints of the author’s columns on investing that appeared in The Memphis Commercial Appeal from 1993 until 2003 cover these and many other subjects including indexing, market timing, selecting money managers, and the danger of fear and greed on market prices.

About the Author

FRANK A. JONES graduated from MIT in 1948. In 1950, he entered the cotton merchandising business and in 1955 became a partner in Cook & Company, a cotton firm that soon became Cook Industries, Inc., a mini-conglomerate. As CFO of the company and later President, he managed the Terminix, Bruce Flooring, and Riverside Chemical divisions. From 1980 until 1992, he purchased and sold a steel forging company, then an aluminum die-casting company. In 1992, he started Summit Asset Management, a Registered Investment Advisory firm and from 1993 until 2003, wrote a financial column for The Memphis Commercial Appeal. He has served on the boards of the St. Louis and the Memphis Federal Reserve Banks, the Frisco railroad, and many local charitable organizations. Currently he serves as a Director and Regional Manager of Cumberland Trust & Investment Co.