A Random Walk Down Wall Street: The Time-Tested Strategy for Successful Investing (Twelfth Edition) 12th Edition, Kindle Edition

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ISBN-13: 978-0393358384
ISBN-10: 0393358380
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Editorial Reviews

Amazon.com Review

It's unlikely that you'll spot many dog-eared copies of A Random Walk floating amongst the Wall Street set (although bookshelves at home may prove otherwise). After all, a "random walk"--in market terms--suggests that a "blindfolded monkey" would have as much luck selecting a portfolio as a pro. But Burton Malkiel's classic investment book is anything but random. Since stock prices cannot be predicted in the short term, argues Malkiel, individual investors are better off buying and holding onto index funds than meddling with securities or actively managing mutual funds. Not only will a broad range of index funds outperform a professionally managed portfolio in the long run, but investors can avoid expense charges and trading costs, which decrease returns.

First published in 1973, this seventh printing of a A Random Walk looks forward and does so broadly, examining a new range of investment choices facing the turn-of-the-century investor: money-market accounts, tax-exempt funds, Roth IRAs, and equity REITs, as well as the potential benefits and pitfalls of the emerging global economy. In his updated "life-cycle guide to investing," Malkiel offers age-related investment strategies that consider one's capacity for risk. (A 30-year-old who can depend on wages to offset investment losses has a different risk capacity from a 60-year-old.) In his assessment of rocketing Internet stocks, Malkiel defends his "random" position well, explaining how "the market eventually corrects any irrationality--albeit in its own slow, inexorable fashion. Anomalies can crop up, markets can get irrationally optimistic, and often they attract unwary investors. But eventually, true value is recognized by the market, and this is the main lesson investors must heed." Written for the financial layperson but bolstered by 30 years of research, A Random Walk will help individual investors take charge of their financial future. Recommended. --Rob McDonald --This text refers to an out of print or unavailable edition of this title.

From Library Journal

Princeton University economist Malkiel has written the sixth edition of his classic (LJ 9/15/73). The term "random walk" refers to the impossibility of predicting tomorrow's stock prices today. Technicians with all their charts cannot do so, nor can fundamentalists with all their ratios. The random walk is essentially the same as the "efficient market" theory-all new information is immediately reflected in stock prices, so the average investor can't beat the market. What's left? Buy no-load index funds (unavailable in 1973) or good stocks and hold for the long term. Before reaching this conclusion, Malkiel walks the reader through other useless theories with gentle humor and an abundance of tables and charts. The last part of the book is an extremely useful "practical guide" covering various aspects of an investor's financial life such as insurance and home ownership. Recommended for public libraries.
--Alex Wenner, Indiana Univ. Libs., Bloomington
Copyright 1996 Reed Business Information, Inc. --This text refers to an out of print or unavailable edition of this title.

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Nat Whilk
4.0 out of 5 stars Why it pays investors to keep things simple
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5.0 out of 5 stars Easy and interesting to read
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5.0 out of 5 stars Don't invest without it
Reviewed in the United Kingdom on June 20, 2013
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Amazon Customer
3.0 out of 5 stars he suggests buy & hold the shares for long time but also gives a lot of examples of companies such as enron which went bust and made heavy losses to there investors in directly suggesting buying & holding is also not a good strategy. this is a very good entertainment book ...
Reviewed in India on May 15, 2018
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S. Will
5.0 out of 5 stars ein packend erzählter Spaziergang entlang der Wall Street
Reviewed in Germany on August 2, 2013
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5.0 out of 5 stars Thank You Thank You Thank You Thank You Thank You Thank You Thank You Thank You
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VS
5.0 out of 5 stars ... working of the financial system which will leave you better equipped while taking your financial decisions
Reviewed in India on December 29, 2015
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5.0 out of 5 stars Un must.
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