This is an investement guide for the 1990s. An entirely new chapter has been added, "A life cycle guide to personal investing", which shows how individuals can tailor their financial objectives to their particular incomes at any age and how a mix of saving and investment plans will provide funds when needed and for the years beyond retirement. Another new chapter takes up the techniques that turn the odds of success significantly in favour of the individual investor, while debunking premature claims of the death of the random walk theory. In addition, Burton Malkiel explains the new financial instruments that increase the options for either short-or long-run gains.

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Malkiel, chair of Chemical Bank and an economics professor at Princeton, updates in this fifth edition of his investment primer (the first was published in 1973, the 4th in 1985) the concept that the individual investor can do just as well as the professional in picking investments that reap good rewards. Taking into consideration the new tax law, economic trends in the last five years (as well as those trends discussed in previous editions), and current operating procedures for mutual funds, basic investment skills and principles are reviewed in an easy-to-understand manner with appropriate examples. Especially useful is the material provided that updates information regarding savings bonds, real estate, and inflation trends, as well as advice on how to invest when getting older. Recommended for finance collections.
- Steven J. Mayover, Free Lib. of Philadelphia
Copyright 1990 Reed Business Information, Inc.

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