A Random Walk down Wall Street:
The Time-tested Strategy for Successful Investing

By: Burton G. Malkiel | Categories: Investing
This decades old influential classic graces the shelves of countless people. It addressed then what seems to be common sense now: that in the world of investing, less (activity) is more.
Recommended by the following bloggers:

What Bloggers Are Saying...

"Another great book about investment theory. It goes very deeply into how actively picking stocks is a losing strategy, and the math behind it. It also shows all of the math supporting why we'll diversified portfolios can maintain high growth and decrease volatility."
"Such a classic on investing and index funds."
"Similar to The Four Pillars of Investing, this book makes very strong arguments advocating for passive investing. In addition to the technical detail provided in The Four Pillars of Investing, this one goes deeper into why different types of analysis, such as technical analysis, simply don't work in the long run. It also goes more into the math behind diversified portfolios with a very good example using a beach resort."
"Cuz it's the bible"
"No matter how many times you read that you can’t predict the market, it always feels like it might still be worth a shot. Every blogger in the world can tell you not to time the market and you’ll still have that little voice in the back of your head saying, “Yeah, but…” Random Walk explains why your intuition is wrong. It’s a great mix of data and analysis on the one hand and stories and anecdotes on the other, so that the message gets across regardless of your preferred style of learning."
"Humorous and full of interesting (and some outrageous) historical facts. Makiel not only advocates passive investing but came up with comment that 'blind-folded monkeys' were better than many experts at picking stocks. This gave me the idea to run my own 'Monkey Stocks' competition. Randomly picked stocks have performed well vs the 'experts', as per Makiel's own findings."
"The book has many great examples for why a passive strategy is better for the long run. It literally changed my investment strategy."
"Taught me about Index funds vs. picking stocks"
"Malkiel gives a detailed overview of the ins and outs of investing. For those interested in learning more, it's a great read. Plus, Malkiel hints at the most effective investing strategy through the book: index investing."
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