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A Random Walk Down Wall Street: The Time-Tested Strategy for Successful Investing

A Random Walk Down Wall Street: The Time-Tested Strategy for Successful Investing


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About the Book

Here, in the newest edition of a perennial bestseller, Burton G. Malkiel maps a clear path through the post-dot com financial minefield and gives individual investors the necessary information to manage their money with confidence.

Now more than ever, this sure-footed, irreverent, and vastly informative volume is the best investment guide money can buy. In A Random Walk Down Wall Street you will learn the basic terminology of Wall Street, how to navigate its turbulence, and how to beat the pros at their own game—with a user-friendly, long-range investment strategy that really works. Skilled in the ways of Wall Street, Malkiel shows why a portfolio of securities that simply buys and holds all the securities in a broad index is most likely to exceed the performance of securities carefully picked by professionals using sophisticated analytical techniques.

Investing is too murky a venture to be undertaken without first reading this time-tested guide. You’ll learn how to assemble a basic portfolio; the role that your portfolio should play alongside other financial of interest vying for your attention, such as home ownership and life insurance; and how to estimate the potential returns of the stocks, bonds, mutual funds, real estate trusts, and other items you will consider for your investment portfolio.

Savvy to irrational exuberance, deceptive sales pitches, and institutional change, Malkiel brings his characteristic clarity to this completely revised and updated edition, illuminating key decisions facing contemporary investors. Overwhelmed in choosing a fund? Decode the rating game for mutual funds, and discover the unique advantages of index funds over the wide range of riskier—and more expensive—alternatives. Concerned about the global economy? Learn the benefits that come with the risks of international investing. Feeling battered by the tax man? Capitalize on the latest opportunities for reducing, and even eliminating, the tax bite from investment earnings.

This latest edition also includes an update of Malkiel’s invaluable "life-cycle guide to investing," showing how to match an investment strategy to each stage of your life. Sound advice for the wary but ambitious investor, A Random Walk Down Wall Street proves once again that it is possible to be smart and rich.

About the Author:
Burton G. Malkiel holds the Chemical bank Chairman’s Professorship at Princeton University. He is a former member of the Council of Economic Advisers and serves on the boards of several major corporations.

Table of Contents
Part I: Stocks and Their Value

  • Firm Foundations and Castles in the Air
  • The Madness of Crowds
  • Stock Valuation from the Sixties through the Nineties
  • The Biggest Bubble of All: Surfing on the Internet
  • The Firm-Foundation Theory of Stock Prices
Part II: 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
Part III: The New Investment Technology
  • A New Walking Shoe: Modern Portfolio Theory
  • Reaping Reward by Increasing Rick
  • Potshots at the Efficient-Market Theory and Why They Miss
Part IV: A Practical Guide for Random Walkers and Other Investors
  • A Fitness Manual for Random Walkers
  • Handicapping the Financial Race
  • A Life-Cycle Guide to Investing
  • Three Giant Steps Down Wall Street


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Product Details
  • ISBN-13: 9780393330335
  • Publisher: W. W. Norton & Company
  • Binding: Paperback
  • Edition: REV UPD
  • Language: English
  • Series Title: English
  • Sub Title: The Time-Tested Strategy for Successful Investing
  • Width: 143 mm
  • ISBN-10: 0393330338
  • Publisher Date: 17 Dec 2007
  • Depth: 31
  • Height: 206 mm
  • No of Pages: 455
  • Spine Width: 27 mm
  • Weight: 363 gr


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A Random Walk Down Wall Street: The Time-Tested Strategy for Successful Investing
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