A Random Walk Down Wall Street

Burt Malkiel time-tested retirement investing advice

Known as one of the “few great investment books” ever written, Rebalance Investment Committee member Burt Malkiel’s completely revised and updated edition of A Random Walk Down Wall Street, accentuates our investment methodology of using low-cost, diversified index funds, guided by efficient market theory.

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, despite recent advice to the country from so-called experts in the wake of the financial crisis, 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, Malkiel provided valuable new material throughout the book on exchange-traded funds and investment opportunities in emerging markets, and in a brand-new, timely chapter, Malkiel authoritatively assesses the pitfalls and prospects of the latest investing trend, “smart beta”.

On top of all this, the book’s classic life-style 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 like 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.”

“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 Buffet. That’s about what awaits you in the latest edition of this must-read by Burton Malkiel.”

“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.”

“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 the bookstores, reread an old one: A Random Walk Down Wall Street.”

“An engagingly written and wonderfully argued tome.”

“A useful introduction to investing with lots of common-sense advice.”


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 41 years ago, and it is the same passion that makes him a critical member of the Rebalance team today.