A Random Walk Down Wall Street
The Time-Tested Strategy for Successful Investing.
In a time of market volatility and economic uncertainty, when high-frequency traders and hedge-fund managers seem to tower over the average investor, Princeton University Professor Burton G. Malkiel’s classic and gimmick-free investment guide is now more necessary than ever. Rather than tricks, what you’ll find here is a time-tested and thoroughly research-based strategy for your portfolio. Whether you’re considering your first 401(k) contribution or contemplating retirement, this fully updated edition of A Random Walk Down Wall Street should be the first book on your reading list.
In A Random Walk Down Wall Street you’ll learn the basic terminology of “The Street” and how to navigate it with the help of user-friendly, long-range investment strategy that really works. Drawing on his own varied experience as an economist, financial adviser, and successful investor, Malkiel shows why an individual who buys over time and holds a low-cost, internationally diversified index of securities is still likely to exceed the performance of portfolio carefully picked by professionals using sophisticated analytical techniques.
In this new edition, now 50 years on and many market cycles wiser, Malkiel provides valuable new material throughout the book, including advice on using low cost exchange-traded funds, an updated critique of meme stocks and the cryptocurrency bubble, and an authoritative assessment of the latest trends in behavioral finance.
On top of all this, the book’s classic lifestyle guide to investing, which tailors strategies to investors of any age, will help you plan confidently for the future. You’ll learn how to analyze the potential returns, not only for basic stocks and bonds but for the full range of investment opportunities, from money-market accounts and real estate investment trusts to insurance, home ownership, and tangible assets such as gold and collectibles. Throughout the book, individual investors of every level of experience and risk tolerance will find the critical facts and step-by-step guidance they need to protect and grow their hard-earned dollars.
With the prevailing wisdom changing on an almost daily basis, Malkiel’s reassuring and vastly informative volume remains the best investment guide money can buy.
“Do you want to do well in the stock market? Here’s the best advice. Scrape together a few bucks and buy Burton Malkiel’s book. Then take what’s left and put it in an index fund.”
—LOS ANGELES TIMES
“Talk to 10 money experts and you’re likely to hear 10 recommendations for Burton Malkiel’s classic investing book.”
—WALL STREET JOURNAL
“Not more than half a dozen really good books about investing have been written in the past fifty years. This one may well belong in the classics category.”
“A Random Walk has set thousands of investors on a straight path since it was first published in 1973. Even if you read the book then or more recently, a refresher course is probably in order…. A lucid mix of the theoretical and the pragmatic.”
“Almost every list of must-read investment books… includes Malkiel’s Random Walk.”
“If one of your New Year’s resolutions is to improve your personal finances, here’s a suggestion: Instead of picking up one of the scores of new works flooding into bookstores, reread an old one: A Random Walk Down Wall Street.”
—NEW YORK TIMES
“An engagingly written and wonderfully argued tome.”
“Imagine getting a week-long lesson on investing from someone with the common sense of Benjamin Franklin, the academic and institutional knowledge of Milton Friedman and the practical experience of Warren Buffett. That’s about what awaits you in the latest edition of this must-read by Burton Malkiel.”
“A must-read for any investor.”
About the Author:
Dr. Burton G. Malkiel is the Chemical Bank Chairman’s Professor of Economics Emeritus at Princeton University. He is a former member of the Council of Economic Advisers, dean of the Yale School of Management, and has served on the boards of several major corporations, including Vanguard and Prudential Financial. He is on the Rebalance Investment Committee.
A prolific author and highly respected voice in the investment industry, Professor Malkiel has written hundreds of scholarly articles and opinion pieces in publications such as The Financial Times, The New York Times, and The Wall Street Journal, and has authored 17 books. Despite his myriad accomplishments and professional experiences, there has been one unwavering constant in Dr. Malkiel’s career: his passionate belief that the power and efficiency of low-cost, diversified, and well-balanced index-based investing should be available to all American families, regardless of income or economic status. It was this passion that led him to write A Random Walk Down Wall Street five decades ago, and it is the same passion that makes him a critical member of the Rebalance team today.