Anonymous
Posted Wed Oct 15 00:00:00 EDT 2003
The first edition of Bernard Malkiel¿s A Random Walk Down Wall Street appeared in 1973, a few years after the twentieth century¿s first big computer technology bubble, the go-go era, popped. This, the newest and eighth edition, appears after the popping of the dot.com bubble, the last of the twentieth century¿s great computer technology bubbles. Investors burned in the first bubble could have been excused; after all, they didn¿t have Malkiel¿s book. But it¿s astounding how avidly Internet speculators threw aside all that Malkiel and others had taught them. This book belongs on every investor¿s bookshelf, and ought to be consulted, or at least touched to the forehead, before any investment decision. Most investment books aren¿t trustworthy, because their authors are salespeople who are really making a pitch instead of trying to inform you. Malkiel is disinterested. He is a teacher with the intellectual discipline of a true financial economist, and yet he writes as vividly as a good journalist. We recommend this classic: all you need to know about the market is between its covers.
9 out of 10 people found this review helpful.
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Posted Thu Jun 05 00:00:00 EDT 2003
This book is a solid introduction to investment. It makes a strong case that the best investment strategy is simply to buy index funds.
8 out of 11 people found this review helpful.
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Posted Sat Feb 11 00:00:00 EST 2012
This book representa the one constant in an ever changing world of diversity and speculation in investments. Our investment decisions are becoming increasingly affected by diverse cultural points of view, rapidly changing technolgy trends, limited resources, and new investment vehicles. For readers looking for traditional guidance in value investing, this book presents the fundamentals and for that reason is highly recommended for both new and veteran investors, especially those who have lost money despite their best investment attempts. Be advised that value in the context of this book does not mean cheap, but rather, improving the odds to minimize risk for long term growth. This is the book for traditionalists and ones that would be so.
7 out of 7 people found this review helpful.
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Posted Mon Dec 12 00:00:00 EST 2011
The author states his investment advice in succinct terms in the first chapter, then uses the rest of the book to explain how he came to that conclusion and the history of investing. Entertaining and useful.
6 out of 7 people found this review helpful.
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Posted Sat Mar 16 00:00:00 EDT 2013
Masterpiece, superb.
3 out of 7 people found this review helpful.
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Posted Sun Apr 07 00:00:00 EDT 2013
Incredible -- how much quality information this book provides. Highly insightful.
2 out of 2 people found this review helpful.
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Posted Wed Mar 20 00:00:00 EDT 2013
The best investment content there is for an investor. Absolutely how much I learned form reading this book, very highly recommend.
2 out of 4 people found this review helpful.
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Posted Sun Mar 17 00:00:00 EDT 2013
Worldwide bestselling classic. Full of relevant, useful wisdom, very easy to read-understand-apply to your daily life.
Excellent book on investing, should be required reading for all people.
2 out of 4 people found this review helpful.
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Posted Sun Apr 14 00:00:00 EDT 2013
Best investing, finance, economics, business adminstration, wall-street book that I have ever read.
1 out of 1 people found this review helpful.
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Posted Mon Mar 25 00:00:00 EDT 2013
Phenomenal book
1 out of 2 people found this review helpful.
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Posted Sun Mar 24 00:00:00 EDT 2013
Highly recommend
1 out of 3 people found this review helpful.
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Posted Sat Mar 16 00:00:00 EDT 2013
Exceptional
1 out of 5 people found this review helpful.
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Posted Sun Apr 28 00:00:00 EDT 2013
Excellent wall street investing book. Perhaps the best I have ever known, read.
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Posted Sat Apr 20 00:00:00 EDT 2013
Excellent book.
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Posted Tue Apr 16 00:00:00 EDT 2013
Highly recommend
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More About This Textbook
Overview
About the Author:
Burton G. Malkiel is a former member of the Council of Economic Advisers and has served on the boards of several major corporations, including the Vanguard Group of Investment Companies and Prudential Financial Corporation
Related Subjects
Editorial Reviews
Publishers Weekly
The eternal truth of this updated investment classic, originally published in 1973, is simple: you can't beat the market. Well, technically, you can beat the market, but not profitably, because the transaction costs of your brilliant trading will eat up the extra returns. You can also beat the market by pure luck-but you can't deliberately beat the market, because you can't predict future stock prices. You can't predict them by divining Wall Street's crowd psychology; or by charting trends in stock prices; or by doing lots of research on companies' business prospects. You can't predict them from hemlines (though there's been "some evidence" for correlation between skirt length and market prices in the past, Malkiel poo-poos future possibilities) or Super Bowl winners (this, he says, makes "no sense"). In fact, according to the efficient market theory, which states that all knowable information about a stock's value is already reflected in its share price, you can't predict them at all. Malkiel, a Princeton economist and professional investor, backs it all up with statistics, charts and studies, and gives an entertaining review of the sorry history of market bubbles, panics and delusions of omniscience, from the Dutch tulip craze to the Beardstown Ladies. This edition looks at new wrinkles (it seems you can't beat the market by buying companies with ".com" in the name), and provides a lucid overview of novel investment vehicles. Standing by his notorious claim that "a blindfolded chimpanzee throwing darts" at the NYSE listings could pick stocks as well as the Wall Street pros, Malkiel advises investors to "buy and hold" a diversified portfolio heavy on index funds that passively mirror the market, which usually out-perform actively managed funds. His witty, acerbic style and persuasive arguments will delight readers but, alas, leave Wall Street unmoved. (Apr.) Copyright 2003 Reed Business Information.Library Journal
Updating a classic to keep your investing fresh. Copyright 2006 Reed Business Information.Forbes
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.Product Details
Meet the Author
Table of Contents