A Random Walk Down Wall Street: Including a Life-cycle Guide to Personal Investing

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W. W. Norton & Company, 1999 - Investments - 461 pages
6 Reviews
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.
 

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LibraryThing Review

User Review  - JoeYee - LibraryThing

Read the 2007 edition, some of the information are outdated but most of them are still useful. Great explanations for beginners. Yes, this book is biased even Malkiel said so himself but so all any ... Read full review

LibraryThing Review

User Review  - browner56 - LibraryThing

Professors teaching security analysis in business schools face an interesting dilemma: We train people how to identify situations where a stock’s price and intrinsic value may differ, despite the fact ... Read full review

Contents

Preface
13
The Madness of Crowds
35
12
41
13
51
An Afterword
53
The Sour Seventies
73
The FirmFoundation Theory of Stock Prices
95
PART TWO HOW THE PROS PLAY THE BIGGEST GAME IN TOWN
115
Is the Market
240
PART FOUR A PRACTICAL GUIDE FOR RANDOM WALKERS
275
A Primer
326
The Age of the Millennium
342
A LifeCycle Guide to Investing
351
Three Giant Steps Down Wall Street
372
Potentially Useful StockPicking
386
A Primer on MutualFund Costs
398

Technical Analysis and the RandomWalk Theory
138
How Good Is Fundamental Analysis?
165
PART THREE THE NEW INVESTMENT TECHNOLOGY
197
Reaping Reward by Increasing Risk
220
A Paradox
405
Bibliography
429
Index
445
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About the author (1999)

Burton G. Malkiel is the Chemical Bank Chairman's Professor of Economics Emeritus at Princeton University. He is a former member of the Council of Economic Advisers, dean of the Yale School of Management, and has served on the boards of several major corporations, including Vanguard and Prudential Financial. He is the chief investment officer of Wealthfront.

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