Economics

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

  • Downloads：2808
  • Type：Epub+TxT+PDF+Mobi
  • Create Date：2022-11-07 10:21:34
  • Update Date：2025-09-06
  • Status：finish
  • Author：Burton G. Malkiel
  • ISBN：1324051132
  • Environment：PC/Android/iPhone/iPad/Kindle

Reviews

Dave B ，

Very detailed break down of everything stock market related， from theories to the history of the market。 This version was written a couple years pre-pandemic so would be interesting to see how drastic it changes some of the theories and long term plans。

Aaaschless ，

Filled with useful information on investing。 The only drawback is that just four years later， many events have occurred which have changed the investment landscape。

Eric Swanson ，

Malkiel's depiction of investing methods， and his repudiation of the commonly held mania of Wall Street professionals is sound， insightful and eye-opening。 A great read for anyone who is looking to start a journey of logical， value-based investing strategies。 Malkiel's depiction of investing methods， and his repudiation of the commonly held mania of Wall Street professionals is sound， insightful and eye-opening。 A great read for anyone who is looking to start a journey of logical， value-based investing strategies。 。。。more

Sky Anderson ，

Probably the second best book on investing。

Jack Osborne ，

This book plays itself like an adventure。 Turmoil and total capitulation is a very fine line throughout history and only through these means can one seize it all

Sarah Platt ，

I appreciated that this book was written well and wasn’t bone dry considering its subject。 It was a bit over my head in places， but gave me a starting place to learn about investing。

Brandon ，

Good explanation of the basic theories of investment。 Strong proponent of diversified passive portfolio。

Zawad Amin ，

A good book to get a basic idea regarding the stocks and other securities。 Repetitive on some parts。。but， enjoyable due to some sly dark humor。

Phillip Hardy ，

This review has been hidden because it contains spoilers。 To view it， click here。 First half is great。 It covers big stock market history events and discusses TA and FA。 Drags a lot in the second half with a convoluted attempt at portfolio advice。

Jonas ，

This book sums up pretty much everything you need to know about investing as an average person and it busts a lot of common investment myths。 I highly recommend it！

Sulaiman ，

Hello。 Tis a rivyuw。 This book is very nice book but not liike title say （hardcover） tis was notr hardcover or any cover it was kindel。 kindel has none hardcover only soft cover how this scam？also question what is wall street and what means random。 thank alls yuo！

Andrei S ，

This book is a very good start in investing for everyone。 Malkiel manage to explain all the financial instruments in a language that can be easily understood by all readers， experienced or beginners in markets。Must read by everyone who want to achieve financial wellbeing as well as a relaxed retirement。"The only thing worse than death is to live longer than your money" This book is a very good start in investing for everyone。 Malkiel manage to explain all the financial instruments in a language that can be easily understood by all readers， experienced or beginners in markets。Must read by everyone who want to achieve financial wellbeing as well as a relaxed retirement。"The only thing worse than death is to live longer than your money" 。。。more

Max ，

The info is decent if you haven’t gotten much exposure to the ideas before。 Pretty repetitive， however。And the jokes are rough stuff。

Simon Bradley ，

Very interesting to read a classic ingesting text from the 1980s and see that nothing has really changed in how the basics of the economy and the markets work。 Well written and often entertaining this is a good read for those wanting to dip their toes in the market for the first time or those wishing to review what one of the all time legend wrote 40 years ago。 He was spot on。

Drew Boswell ，

Malkiel first published his "A Random Walk Down Wall Street" in the early 1970s and since then has updated it from time to time。 This 2015 edition is a must read for anyone even vaguely interested in investing。 The author writes with flair and confidence and not a little snark at times， making for an enjoyable reading experience。 His advice may be controversial with some， but coming as he does from the academic side of the street， Malkiel's strength is that of a teacher。 I confirmed a few things Malkiel first published his "A Random Walk Down Wall Street" in the early 1970s and since then has updated it from time to time。 This 2015 edition is a must read for anyone even vaguely interested in investing。 The author writes with flair and confidence and not a little snark at times， making for an enjoyable reading experience。 His advice may be controversial with some， but coming as he does from the academic side of the street， Malkiel's strength is that of a teacher。 I confirmed a few things I thought I knew about stocks and bonds， but I learned much more that I didn't know before。 Complex economic concepts become clear and concise lessons in "A Random Walk，" which is a gift to investors of any age but will be especially useful to those just beginning to save and invest。 As a writer， Malkiel proves that investment books are definitely not boring。 I'll leave commentary on his specific investment advice to those whose knowledge exceeds mine， but I'll urge you to read the book because it's a fun way to learn about an important subject。 。。。more

Billy ，

This book is highly recommended by some of my friends。 The first part is enlightenment。 Toward the end is less interesting for me。

Bùi Ngọc Hiến ，

- Thị trường đói khát hoa tulip， dot。com， công nghệ sinh học- sự lừa đảo của đầu cơ và các chiếc bánh vẽ- xác nhập các công ty làm tăng giá trị doanh nghiệp。。。-một loại chứngkhoán sẽ cao hơn nếu tӹ lệ tăng trưởng của côngty cao hơn và thời gian tăng trưởng kéo dài hơn;tӹ lệ trả cổ tức của hãng nhiều hơn; nguy cơ rủi rocủa cổ phiếu thấp hơn; và tӹ lệ lãi suất chung thấp hơn- Càng nắm giữ cổ phiếu lâu dài thì tỷ lệ rủi ro càng thấp- đầu tư， phân bổ tài sản hợp lý ở từng lứa tuổi- niên kim : bảo hi - Thị trường đói khát hoa tulip， dot。com， công nghệ sinh học- sự lừa đảo của đầu cơ và các chiếc bánh vẽ- xác nhập các công ty làm tăng giá trị doanh nghiệp。。。-một loại chứngkhoán sẽ cao hơn nếu tӹ lệ tăng trưởng của côngty cao hơn và thời gian tăng trưởng kéo dài hơn;tӹ lệ trả cổ tức của hãng nhiều hơn; nguy cơ rủi rocủa cổ phiếu thấp hơn; và tӹ lệ lãi suất chung thấp hơn- Càng nắm giữ cổ phiếu lâu dài thì tỷ lệ rủi ro càng thấp- đầu tư， phân bổ tài sản hợp lý ở từng lứa tuổi- niên kim : bảo hiểm ，。。。。 。。。more

Shantanu ，

Especially worth a read to understand that stock price is the most irrelevant piece of information while deciding buy/sell。Entertaining to read the portion on bubbles。 A take on recent times: Every decade or so you get bubbles in our Indian stock markets。 90s saw internet companies， 00's saw power and infra， now we are witnessing consumer tech / fintech。 Maybe in 10 years time we will see space travel， housing boom on Mars but I guess such predictions are as futile as predicting future stock pri Especially worth a read to understand that stock price is the most irrelevant piece of information while deciding buy/sell。Entertaining to read the portion on bubbles。 A take on recent times: Every decade or so you get bubbles in our Indian stock markets。 90s saw internet companies， 00's saw power and infra， now we are witnessing consumer tech / fintech。 Maybe in 10 years time we will see space travel， housing boom on Mars but I guess such predictions are as futile as predicting future stock prices based on charts :） 。。。more

John Paul Hohenshilt ，

Book number 30 in 2022！Is basically 400 pages saying time in the market beats timing the market。 Past performance are not indicative of future results -- that the market cannot be predicted and represents "a random walk"I like that it takes a big shit on almost every market theory like efficient and modern market theories。 Also takes a shit on fundamental and technical analysis and says you're much better off sticking your money in a broad based index or ETF。This one took me a long time to finis Book number 30 in 2022！Is basically 400 pages saying time in the market beats timing the market。 Past performance are not indicative of future results -- that the market cannot be predicted and represents "a random walk"I like that it takes a big shit on almost every market theory like efficient and modern market theories。 Also takes a shit on fundamental and technical analysis and says you're much better off sticking your money in a broad based index or ETF。This one took me a long time to finish， but I enjoyed reading it because it challenged every notion I have as an investor。 。。。more

Joel ，

Thorough and revised to be up to date。 Necessarily opinionated but relatively unbiased。

Hampton ，

When Boswell asked Johnson what he thought of Berkeley’s idealism， Johnson， with the philosophical good sense of an Englishman， kicked a nearby stone， declaring， “I refute it thus。” This is the degree of engagement the EMH merits。 The EMH is incorrect because it’s manifestly absurd， “and that will be the end of it！” quoth Johnson。

Genevieve ，

I enjoyed most of it。 It was easy to understand and the examples were clear and well supported。 It did get a little repetitive， so I skipped through some parts one I understood the patterns。

Mitchell Wilson ，

this book has some pretty graphs

Isaac ，

I felt like this book hit a sweet spot for me in it's content。 It assumes some knowledge of investing， but not a lot。 You just need enough of a foundation to support the second order ideas Malkeil builds on them like efficient market hypothesis， foundational/technical analysis， arbitrage and so on。 I was pretty comfortable following the content， and even the ideas I was familiar with benefitted from a fresh explanation here。I read the 11th edition which was revised and updated by a now octogenar I felt like this book hit a sweet spot for me in it's content。 It assumes some knowledge of investing， but not a lot。 You just need enough of a foundation to support the second order ideas Malkeil builds on them like efficient market hypothesis， foundational/technical analysis， arbitrage and so on。 I was pretty comfortable following the content， and even the ideas I was familiar with benefitted from a fresh explanation here。I read the 11th edition which was revised and updated by a now octogenarian Malkiel， and the writing is generally very clear and concise。 That said when he editorializes or deploys old timey aphorisms and anecdotes to spice things up it comes across with this this wonderfully entertaining sassy， maybe slightly senile， grandpa tone which I got a big kick out of。Malkiel's investment strategy is pretty much in alignment with my own; just buy， mostly index funds。 Which isn't the sexiest strategy on Wall Street， but he makes a strong case for it being your best bet （though I would be interested to read some modern rebuttals）。 He leaves plenty of space for variation though based on risk tolerance， age and temperament which seemed like an excellent framework on which to consider your investments。 。。。more

Joseph ，

This review has been hidden because it contains spoilers。 To view it， click here。 One of the better investment books I’ve read。 Malkiel is a more engaging author than Jack Bogle。 They do share many of the same investing philosophies。 I read the 12th Edition and enjoyed the recent topics in investing， such as smart beta and factor investing。 The beginning section on market bubbles was engaging if you enjoy reading about history。 Malkiel addresses the index fund bubble counterargument in the epilogue。 Main Takeaways- Invest in a Total Stock Market Index Fund- Invest in an Inter One of the better investment books I’ve read。 Malkiel is a more engaging author than Jack Bogle。 They do share many of the same investing philosophies。 I read the 12th Edition and enjoyed the recent topics in investing， such as smart beta and factor investing。 The beginning section on market bubbles was engaging if you enjoy reading about history。 Malkiel addresses the index fund bubble counterargument in the epilogue。 Main Takeaways- Invest in a Total Stock Market Index Fund- Invest in an International Index Fund （including emerging markets）- Malkiel suggests investing a small portion towards REITs。 I don’t do this， but I think it could be a wise choice to increase portfolio diversification。- If you choose to pick stocks for enjoyment， use a small portion of your portfolio。- If you pick stocks， fundamental analysis and value investing are safer bets than technical analysis。Overall， I enjoyed this book。 Unlike many other popular investment books， the 12th Edition of A Random Walk Down Wall Street does an excellent job of staying relevant by updating market data， including new studies， and addressing current issues in finance。 I recommend this book to intermediate investors。 For beginner investors， I recommend reading The Bogleheads’ Guide to Investing， 2nd Edition， before reading this one。 。。。more

Bambang Prijamboko ，

Why you need to invest ？Inflation ate your investment every year， so in this book Malkiel give us a way how to beat the market。What is the strategy or analysis ？ - Firm foundation （based on instrinsic value）- Castle in the air （Technical Analysis）It also explaining 'Beta' stock which is a stocks characteristic volatility that describes the up and down movements。 It used to evaluate a stock’s risk and potential reward。And a lot of tips for investor including psychology， money management and portf Why you need to invest ？Inflation ate your investment every year， so in this book Malkiel give us a way how to beat the market。What is the strategy or analysis ？ - Firm foundation （based on instrinsic value）- Castle in the air （Technical Analysis）It also explaining 'Beta' stock which is a stocks characteristic volatility that describes the up and down movements。 It used to evaluate a stock’s risk and potential reward。And a lot of tips for investor including psychology， money management and portfolio allocation。Unfortunately， in my market index fund and ETF not available。For me this is very good book to open your mind how invest and avoid noise （volatily） in the market。 。。。more

Conner Dalton ，

Recommendation from respected financial mentor。 Central premise is don’t waste time trying to “beat the market。” Average return of market is well above average investor return and even active fund manager return because of behavioral errors or winning strategies eventually becoming part of the “efficient market。” Compelling academic case without the religious Puritanism of the bogleheads even if the conclusions are basically the same。If you’re not employed in money management then relieves the s Recommendation from respected financial mentor。 Central premise is don’t waste time trying to “beat the market。” Average return of market is well above average investor return and even active fund manager return because of behavioral errors or winning strategies eventually becoming part of the “efficient market。” Compelling academic case without the religious Puritanism of the bogleheads even if the conclusions are basically the same。If you’re not employed in money management then relieves the stress of investing。 Some of the practical conclusions around buy and hold， tax advantages investing， low load/fee， watching turnover etc are there but not articulated as clearly as a mass market book like simple path to wealth （not recommended）。 Definitely a text book but approachable。New learning - I’d never heard Keynes’s castle in the air theory of market pricing and valuation。 That was extremely illuminating in understanding the speculative， growth / run ups of meme stocks， crypto， and ARKK in 20-21。 Also gives a good framework for avoiding fomo。New learning - learned a bit more on bond and fundamentals and why finance people are always going on about risk adjusted returns。 What the heck smart beta means。 Etc 。。。more

Glen Leavens ，

A book for the MIT program on Finance。 I enjoyed the Latin lesson "A thing is worth only what someone else will pay for it。" in the first chapter。 The premise of the book is that the unmanaged index will do better than individual stock selections or managed mutual funds in the long term。 The author is focused on individual investors （not speculators） and laughs at the folly of the professional money managers and their cadre of new products being brought to the market and how they routinely fail。 A book for the MIT program on Finance。 I enjoyed the Latin lesson "A thing is worth only what someone else will pay for it。" in the first chapter。 The premise of the book is that the unmanaged index will do better than individual stock selections or managed mutual funds in the long term。 The author is focused on individual investors （not speculators） and laughs at the folly of the professional money managers and their cadre of new products being brought to the market and how they routinely fail。 。。。more

Brian ，

Audio

Alessandro Maccà ，

3。5