Cover image for A random walk down Wall Street : the time-tested strategy for successful investing
Title:
A random walk down Wall Street : the time-tested strategy for successful investing
Author:
Malkiel, Burton Gordon.
Personal Author:
Edition:
[Revised and updated edition].
Publication Information:
New York : W.W. Norton & Company, [2015]

©2015
Physical Description:
447 pages : illustrations, charts ; 25 cm
Summary:
Newly revised and updated with information on exchange-traded funds and investment opportunities in emerging markets, a trusted investment guide is filled with core insights and expert advice on stocks, bonds, money markets, real estate investment trusts, home ownership and more. --Publisher's description.
General Note:
Includes index.

"Completely revised and updated"--Jacket.
Language:
English
Contents:
Stocks and their value. Firm foundations and castles in the air ; The madness of crowds ; Speculative bubbles from the Sixties into the Nineties ; The explosive bubbles of the early 2000s -- How the pros play the biggest game in town. Technical and fundamental analysis ; Technical analysis and the random-walk theory ; How good is fundamental analysis? The efficient-market hypothesis -- The new investment technology. A new walking shoe: modern portfolio theory ; Reaping reward by increasing risk ; Behavioral finance ; Is "smart beta" really smart? -- A practical guide for random walkers and other investors. A fitness manual for random walkers and other investors ; Handicapping the financial race: a primer in understanding and projecting returns from stocks and bonds ; A life-cycle guide to investing ; Three giant steps down Wall Street.
ISBN:
9780393246117
Format :
Book

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HG4521 .M284 2015 Adult Non-Fiction Open Shelf
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HG4521 .M284 2015 Adult Non-Fiction Non-Fiction Area
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Summary

Summary

In a time of market volatility and economic uncertainty, when high-frequency traders and hedge fund managers seem to tower over the average investor, 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 a 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 contrary 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 portfolios carefully picked by professionals using sophisticated analytical techniques. In this new edition, Malkiel has 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-cycle 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. Individual investors of every level of experience and risk tolerance will find throughout the book 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.


Author Notes

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 the chief investment officer of Wealthfront.


Reviews 2

Booklist Review

In the tenth edition of A Random Walk down Wall Street, Malkiel evaluates and emphatically stands by his original investment thesis, that it is extremely rare for an individual investor to consistently beat the stock-market averages. Investors are better off buying and holding an index fund than attempting to buy and sell individual securities or actively managed mutual funds. An index fund which buys and sells all the stocks in a broad stock-market average is likely to outperform professionally managed funds whose high expense charges and large trading costs detract substantially from investor returns. With commentary on numerous investment issues, this readable investment guide for individuals offers information on the full range of new investment products available, the results of current research by academics and other marketplace professionals, and a section on investment strategies for retired investors or those anticipating retirement. This excellent book offers important information for individual investors and is a valuable resource for library patrons.--Whaley, Mary Copyright 2010 Booklist


Library Journal Review

Among the myriad victims of the current financial crisis is this ill-timed ninth edition of economist Malkiel's classic investment primer. (This review was written on a day, mind you, that the Dow ended down 777 points and the House rejected the Bush administration's $700 billion Wall Street bailout plan.) Despite Kerin McCue's (Just One Thing) energized and authoritative reading and the content's seeming prudence and overall pragmatic appeal, it's unlikely libraries will want this title, nor that patrons will be in any kind of mood to listen to it-at least until Wall Street proves it can stand for the long term on its own two legs. For sound fiscal guidance in any other time, in any other marketplace, buy this ninth edition; otherwise, wait for the tenth, which Malkiel is already doubtless scribbling. [With tracks every three minutes for bookmarking; three of this title's preceding print editions received positive reviews (LJ 6/1/90, LJ 2/1/96, LJ 4/1/03).-Ed.]-Raya Kuzyk, Library Journal (c) Copyright 2010. Library Journals LLC, a wholly owned subsidiary of Media Source, Inc. No redistribution permitted.