Updated with a new chapter that draws on behavioral finance, the field that studies the psychology of investment decisions, here is the best-selling, authoritative, and gimmick-free guide to investing. Burton Malkiel’s Random Walk Down Wall Street evaluates the full range of investment opportunities, from stocks, bonds, and money markets to real estate investment trusts and insurance, home ownership, and tangible assets such as gold and collectibles.
A Random Walk Down Wall Street is the book the fund managers/analysts don’t want you to read! This academic / businessman / successful investor tests the performance of technical and fundamental analysts using modern computerized research methods. Both are found wanting.
In this time-tested strategy for successful investing Malkiel provides conclusive proof that no one can consistently beat the markets, and that any attempt to do so simply results in wastage through dealing/management fees. A must read for every investor / would-be investor. Instead Malkiel recommends buying the index through low-cost tracker funds to maximize long-term returns.
This edition includes new strategies for rearranging your portfolio for retirement, along with the book’s classic life-cycle guide to investing, which matches the needs of investors in any age bracket. A Random Walk Down Wall Street long ago established itself as a must-read, the first book to purchase before starting a portfolio. So whether you want to brief yourself on the ways of the market before talking to a broker or follow Malkiel’s easy steps to managing your own portfolio, this book remains the best investing guide money can buy.
