A Random Walk Down Wall Street - Hardcover

Malkiel, Burton G.

Hardcover

ISBN 10: 0393047814 ISBN 13: 9780393047813

Publisher: W. W. Norton & Company, 1999

Synopsis

Tracking the latest risks and rewards on Wall Street, here's the perennial bestseller offering the most reliable investment advice for the new century.

This gimmick-free, irreverent, and vastly informative guide shows how to navigate the turbulence on Wall Street and beat the pros at their own game. Skilled at puncturing financial bubbles and other delusions of the Wall Street crowd, Burton Malkiel shows why a broad portfolio of stocks selected at random will match the performance of one carefully chosen by experts. Taking a shrewd look at the high-tech boom and its aftermath, Malkiel shows how to maximize gains and minimize losses in this era of electronic brokers, virtual gurus, and flashy investment vehicles. Learn how to analyze the potential returns, not only for stocks and bonds, but for the full range of investment opportunities, from money market accounts and real estate investment trusts to insurance, home owning, and tangible assets like gold and collectibles. Decode the rating game for mutual funds, and discover the unique advantages of index mutual funds over the wide range of riskier alternatives. Year in and year out the best investing guide money can buy, this enhanced edition includes an update of Professor Malkiel's famous "Life-Cycle Guide to Investing," showing how to match an investment strategy to your stage of life.

About this title

About the Author

Burton G. Malkiel is the Chemical Bank Chairman’s Professor of Economics Emeritus at Princeton University. He is a former member of the president’s Council of Economic Advisers and dean of the Yale School of Management. He resides in New Jersey.

Reviews

Almost every list of must-read investment books (including Booklist's own "Twenty Timeless Business Books") includes Malkiel's Random Walk. Malkiel, who holds an endowed economics professorship at Princeton, first wrote his perennial bestseller in 1973, and this is its seventh updating and revision. His basic premise is that it is impossible to outperform the market over the long run. This argument antagonizes those who pick and recommend individual stocks, but it also is the rationale behind the growing number of stock index funds that have become so popular. Malkiel continues to update his guide so that he can use the most current performance data to validate his theory. Each revision also includes an evaluation of newer forms of investment vehicles. This time, Malkiel has reorganized much of his material and specifically addresses the spectacular price explosion in Internet stocks. Over the years, Malkiel added and fine-tuned his "Life-Cycle Guide to Investing," which covers the full range of investment strategies over one's life span. David Rouse

Edition details

• Publisher: W. W. Norton & Company
• Publication date: 1999
• Language: English
• ISBN 10: 0393047814
• ISBN 13: 9780393047813
• Binding: Hardcover
• Number of pages: 464