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"A classic, I know, but this preview is all about selling books and this one's already done more than a million copies... this has got to be the leading book in its field." The Bookseller "This revised new edition of the million-copy bestseller is updated with a new chapter on behavioural finance, and remains one of the best investment guides on the market... a must for students of economics." Publishing News"
Product Description
Updated with a new chapter that draws on behavioural finance, the field that studies the psychology of investment decisions, here is the best-selling, authoritative and gimmick-free guide to investing. Burton Malkiel evaluates the full range of investment opportunities, from stocks, bonds and money markets to insurance, home ownership and tangible assets such as gold or collectibles. This edition includes new strategies for rearranging your portfolio for retirement, along with the book's classic life-cycle guide to investing, which matches the needs of investors in any age bracket. "A Random Walk Down Wall Street" long ago established itself as the first book to purchase before starting a portfolio and this "entertaining and informative" ("Financial Times") book remains the best investing guide money can buy.
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Most helpful customer reviews
2 of 2 people found the following review helpful:
4.0 out of 5 stars
Common sense for the common investor.,
By
This review is from: Random Walk Down Wall Street (Paperback)
Contrary to to JVI's opinion I think this book provides valuable information for us average people. It has been proven time and again that the average low cost index mutual/ETF funds in a diversified portfolio will beat the majority of managed funds, speculators, day traders over the long term. Sure there are people who can get stellar returns, but they are few and far between, the majority lose.
You have to ask yourself this, quoted from Carl Futia (a professional speculator): "Successful speculation requires that you outguess other speculators who are probably at least as smart and experienced as you are. Why do you think you can do this? What special knowledge do you have that few other people have? What's your edge? If you think about this question honestly you will probably conclude that you don't have an edge. And if you don't have an edge you must not speculate."
4.0 out of 5 stars
Good condition, but took forever to get here,
By
This review is from: Random Walk Down Wall Street (Paperback)
The book was almost like new, as promised, but Amazon told me my purchase would be there in a couple of weeks and instead it got here in about 4 weeks. So if you need some book soon, don't order from these guys.
1 of 9 people found the following review helpful:
1.0 out of 5 stars
One of The Worst Financial Investment Book You Can Buy,
By JVI "Junior Value Investor" (Vancouver, BC Canada) - See all my reviews
This review is from: Random Walk Down Wall Street (Hardcover)
Sum up the whole book it's saying you can't beat the market because it's efficient and don't even try it. Just buy index fund. It's call the EMT (Efficient Market Theory), the author said you can't find bargain.
According to Markiel, Benjamin Graham is wrong (he got rich twice by buying bargain), Warren Buffett doesn't exists, Walter Schloss can not make 20%+ for 40+ years and still going on.... Through out the history of finance you can find examples like say this: Consider the case of Saucony shoes. In mid-2003, Saucony had a market capitalization of $88 million, with net working capital of $70 million and a beautiful headquarters building worth $10 million. After netting out these assets, the entire company was selling for $8 million (because one owns the assets when one buys the company). At the time, Saucony was generating approximately $133 million in annual sales, $7.3 million in earnings, and $13 million in free cash ' ow. And one could buy all this'in effect'for $8 million! So, clearly, Saucony's assets were available at a bargain price. Con- verse had recently been purchased by Nike (NKE) for one-and-a-half times sales plus the assumption of debt. That formula would equate to at least $200 million for Saucony, not including its $80 million in tangible assets. During early 2004, Saucony rewarded shareholders with a special cash dividend of $26 million ($4 per share). That was nice enough, but the true catalyst came when Saucony was acquired at a premium price by Stride Rite (SRR) in mid-2005. - book exert from Art and Science of Value Investing - by Kinko's founder
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