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A Random Walk Down Wall Street: The Time-Tested Strategy for Successful Investing (Tenth Edition) by [Malkiel, Burton G.]

A Random Walk Down Wall Street: The Time-Tested Strategy for Successful Investing (Tenth Edition) Kindle Edition

4.6 out of 5 stars 829 customer reviews

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Length: 496 pages Word Wise: Enabled Enhanced Typesetting: Enabled
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Editorial Reviews

Amazon.com Review

It's unlikely that you'll spot many dog-eared copies of A Random Walk floating amongst the Wall Street set (although bookshelves at home may prove otherwise). After all, a "random walk"--in market terms--suggests that a "blindfolded monkey" would have as much luck selecting a portfolio as a pro. But Burton Malkiel's classic investment book is anything but random. Since stock prices cannot be predicted in the short term, argues Malkiel, individual investors are better off buying and holding onto index funds than meddling with securities or actively managing mutual funds. Not only will a broad range of index funds outperform a professionally managed portfolio in the long run, but investors can avoid expense charges and trading costs, which decrease returns.

First published in 1973, this seventh printing of a A Random Walk looks forward and does so broadly, examining a new range of investment choices facing the turn-of-the-century investor: money-market accounts, tax-exempt funds, Roth IRAs, and equity REITs, as well as the potential benefits and pitfalls of the emerging global economy. In his updated "life-cycle guide to investing," Malkiel offers age-related investment strategies that consider one's capacity for risk. (A 30-year-old who can depend on wages to offset investment losses has a different risk capacity from a 60-year-old.) In his assessment of rocketing Internet stocks, Malkiel defends his "random" position well, explaining how "the market eventually corrects any irrationality--albeit in its own slow, inexorable fashion. Anomalies can crop up, markets can get irrationally optimistic, and often they attract unwary investors. But eventually, true value is recognized by the market, and this is the main lesson investors must heed." Written for the financial layperson but bolstered by 30 years of research, A Random Walk will help individual investors take charge of their financial future. Recommended. --Rob McDonald

From Publishers Weekly

Latest edition of Princeton professor Malkiel's bestselling investment guide.
Copyright 1996 Reed Business Information, Inc.

Product details

  • File Size: 8780 KB
  • Print Length: 496 pages
  • Publisher: W. W. Norton & Company; 10 edition (January 10, 2011)
  • Publication Date: January 10, 2011
  • Language: English
  • ASIN: B004KKXMZQ
  • Text-to-Speech: Enabled
  • X-Ray:
  • Word Wise: Enabled
  • Lending: Not Enabled
  • Enhanced Typesetting: Enabled
  • Amazon Best Sellers Rank: #487,581 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
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829 customer reviews

4.6 out of 5 stars

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