45 sec. read
Written by Burton Malkiel
Forbes, Money magazine, US News, Morningstar, and countless others have called A Random Walk Down Wall Street one of the best investing books of all time. It has sold over 1.5 million copies and is ranked #3 on Amazon’s best seller list for fund investing.
Malkiel worked at one of the leading investment firms on Wall Street. He was also director of one the largest investing firms in the world.
He is currently the Chairman’s Professor of Economics at Princeton University.
This book was originally written in 1973 and has been revised 12 times. This is the 2019 revised version.
“Investors would be far better off buying and holding an index fund than attempting to buy and sell individual securities or actively managed mutual funds. I boldly stated that buying and holding all the stocks in a broad stock-market average was likely to outperform professionally managed funds whose high expense charges and large trading costs detract substantially from investment returns. Now, over forty-five years later, I believe even more strongly in that original thesis” (p. 17)
“There have been so many bewildering claims about the stock market that it’s important to have a book that sets the record straight.” (p. 18)