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Burton G. Malkiel
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A Random Walk Down Wall Street: The Time-Tested Strategy for Successful Investing

4.12  ·  Rating details ·  31,272 ratings  ·  1,331 reviews
Today’s stock market is not for the faint of heart. At a time of frightening volatility, what is the average investor to do?


The answer: turn to Burton G. Malkiel’s advice in his reassuring, authoritative, gimmick-free, and perennially best-selling guide to investing. Long established as the first book to purchase before starting a portfolio or 401(k), A Random Walk Down Wa
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ebook, 432 pages
Published January 1st 2019 by W. W. Norton Company (first published April 1st 1973)
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Devyn Duffy You might. This book will recommend that you put your money into index funds and will give you some ideas about which funds to start with.
Sue Section 3 of the book is pretty analytical, almost written for a different reader. If you want to concentrate on the practical advice, you can skip it…moreSection 3 of the book is pretty analytical, almost written for a different reader. If you want to concentrate on the practical advice, you can skip it.(less)
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Average rating 4.12  · 
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Jack
Apr 15, 2012 rated it did not like it  ·  review of another edition
Many years ago I bought this book about the stock market. In retrospect, it is the worst book I've ever bought because it made me believe in efficient capital markets. The author made his point with a lot of arrogance - just like finance professors did 15-20 years ago. At the time the markets very certainly not as efficient as the author believed. There have been several updates to the book, but the condescending voice of the author remains.

For the statistically interested, the problem with a lo
...more
Luca Ambrosino
English (A Random Walk Down Wall Street) / Italiano

A challenging walk around Wall Street, in different time periods that affected the American economy and consequently the World, in order to provide us the necessary elements to understand the main investment rules applied on the stock exchange. Burton G. Malkiel describes with clear examples the differences between audacious investment strategies, designed to quickly profit, and more prudent strategies that aim to increase profits in longer time

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emma
Apr 30, 2021 marked it as to-read  ·  review of another edition
my dad is making me read this.
Roy Lotz
Because I read so often, I sometimes think that once in a while I should read something that might materially benefit me. So when my brother gave me this book, I thought "why not?" and dove in.

The first thing I noticed is that Malkiel is a surprisingly gifted writer. He is capable of telling a good story, he's cultured enough to make interesting references, and he has that quintessential skill of all popular writers: the ability to present ideas clearly without dumbing them down. For someone in
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Todd N
Jan 01, 2008 rated it it was amazing  ·  review of another edition
Shelves: finance
From talking to friends and reading an internal financial mailing list at work I got the vague impression that this book was somehow too esoteric or controversial to bother with. I am very glad that I decided to read this book.

It's hard to work in Silicon Valley without being affected by Wall Street. When I started working I was interested in technology, not business and finance. Business and finance seemed a bit beneath me. (Actually, technology seemed a bit beneath me too. I was kind of a snot
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C
Jun 12, 2011 rated it liked it  ·  review of another edition
Recommends it for: investors
Shelves: non-fiction, finance
Investors are bound to have heard about this classic and it’s author, economist Burton Malkiel. In this book, he explains that the market is highly efficient, and no one can accurately predict its ups and downs; it’s a “random walk”. So, the best approach is passive, “buy and hold” investing using diversified index funds held long term. I recommend this book to investors of any level, especially those attracted to active, speculative investing.

The book begins with a fairly boring recount of seve
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Sue
Aug 01, 2016 rated it really liked it  ·  review of another edition
We live in an age when most people have to control their own retirement destiny by making decisions about 401(k), 403(b), and IRAs. Even people with the most modest incomes are encouraged to confront that reality.

Malkiel’s approach is excellent for most of us who are not into stock analysis. He gets high marks for a couple of things: (1) He proposed a market index fund before such a thing even existed. (2) He has revised his book eleven times. In other words he has some street cred. Wall Street
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Brice Karickhoff
Aug 28, 2020 rated it really liked it  ·  review of another edition
Shelves: 2020
Read in case I ever get an interview for a job in finance. How do I post goodreads updates on my LinkedIn?
Kit Pang
Nov 22, 2014 rated it really liked it  ·  review of another edition
Great theories to learn!I can see why this became a classic for investors.

-The Firm-Foundation Theory(Fundamental Analysis)
-The Castle-in-the-Air Theory (Technical Analysis)
Scott
Mar 31, 2009 rated it it was amazing  ·  review of another edition
Shelves: 2000s, money
Malkiel's been writing and rewriting this classic tome on investing for the last thirty-five years. I gave him 5 stars for being fully engaged in the process of revision. Sometimes I wish all authors would write (and rewrite) just one good book (and that actors would star in only one movie). But that's like asking investors to put their money in just a few low-cost funds and hold it there for decades ... hey, that's what Malkiel's talking about! So it's not the most exciting approach to investin ...more
Jerry Kaczmarowski
This is probably the best book ever written on the investment side of personal finances. It goes into extensive detail as to why you should strongly consider index funds or ETFs rather than mutual funds, individual stocks, or help from a personal financial adviser. All 3 of these last alternatives come with a load in terms of either your time or money (or both).

First, Mutual funds are managed and rarely outperform the market. For this lack of performance, you get to give away a percentage each
...more
Vincent Li
A pretty good read for what it's worth. A good primer into basic finance. Personally, it was a good review of finance 101, with a pretty solid explanation of modern portfolio theory, and CAPM. Book seems timely, updated to include a large section on speculative bubbles, and even includes a chapter on behavioral economics. Includes a brief section on the 2008 financial crisis (kind of the standard narrative). It discusses the two competing views of stock prices, which is basically the fundamental ...more
Martin
May 30, 2019 rated it it was amazing  ·  review of another edition
An absolutely amazing book going through the essentials of investing and the financial market. There is so much useful information digested for the common folk which I have been looking for in various other titles without success. The author occasionally exaggerates and gives extreme examples to put emphasis on his points which can be a bit annoying at times. I also regret reading a quite old version of the book which has been published right before the economic crisis of 2008. I would say its a ...more
Clémentine
Dec 23, 2020 rated it really liked it  ·  review of another edition
Conclusion : Index funds are underrated.
Arnav Agrawal
Jul 07, 2020 rated it really liked it  ·  review of another edition
This is a gem of a book. I can whole heartedly recommend this to anyone thinking of venturing into financial markets. It assumes very little and gives a brief glimpse of how financial markets work.

You won’t turn into an overnight millionaire by reading this, but the advise here is pretty sound for growing your pot over time.

It ventures into the history of how people have played the game, fundamental analysis, technical analysis and modern portfolio theory.

You might be tempted to skip to the en
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Jade Melody
thank god it's finally over...


yay another book i'll have to read cover to cover for school...
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Paul DeBusschere
Jan 02, 2012 rated it did not like it  ·  review of another edition
Malkiel's book is just a repackaged version of the same garbage investment firms have fed to the public for years. If the last decade-plus has proved anything, it's that one cannot expect to succeed as an investor by placing your investments on auto-pilot. Following Malkiel's strategy of buying and holding index funds (and not reacting to market conditions), an investor would have reaped negative returns when inflation is factored in.

I've read more than a few books on investing and trading. Malk
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Ami Iida
Feb 25, 2015 rated it it was amazing  ·  review of another edition
Recommends it for: interested in finance
Shelves: finance
It is one of the book that gave the most influence in my life.

I apply that approach the (index funds) to the Nikkei Stock Average and the Dow Jones industrial average stock price.

I have already read the book several times by overlapping edition.

I carry out the index funds .
Periodically I buy it
Practice is important!!!!!!!!!!!!!!!!!!!
---------- it probability distribution manner to distribute the investment in each month
This is the right decision.
the book is worthy of reading repeat and then You
...more
Saeed
Mar 01, 2017 rated it it was amazing  ·  review of another edition
Thank you, Burton, for writing this masterpiece. I always have fear of reading this book because I thought it would be a tough one to read but now I am saying that this book is easy reading with much fun and I am very appreciated for Malkiel's great style of writing.

Great lifetime investing advice, fabulous wisdom and a complete book for Americans but As an Iranian person, I am saying It helped me to think sharp and by every piece of my heart I am saying that I am owing you, Burton G. Malkiel :
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Gwern
Jul 16, 2012 rated it liked it  ·  review of another edition
Moved to gwern.net. ...more
Yousif Al Zeera
Sep 30, 2021 rated it really liked it  ·  review of another edition
Shelves: finance
Recommended, packed with informative insights.
Toe
Mar 22, 2009 rated it really liked it  ·  review of another edition
Shelves: nonfiction
Burton Malkiel's "A Random Walk Down Wall Street" is the book that popularized passive investing. As a Princeton professor and board member of the Vanguard Group, Malkiel brought the practical implications of the efficient market hypothesis to the general investing public. The ideas in this book are now so ubiquitously accepted, that I actually learned very little new information. However, I am pleased to have experienced the original source of this powerfully simple yet effective investment phi ...more
Dan
Feb 06, 2021 rated it liked it  ·  review of another edition
I read this book in the ‘90s. It has some good solid advice about the importance of diversification and the problems with timing market investments.


3 stars. 4 stars for the advice but certainly a dry subject.
David Laing
Overall, great book. I recommend it. My only complaint is that I don't think Malkiel takes his own argument seriously enough. He gives all this evidence that for most investors—certainly for all non-professionals—active investing is a waste of time. But then he's like, "I know that passive investing is too boring for most of you, so here are some strategies you can use to pick stocks." Huh?? ...more
Machaia
I’ve been wanting to gain more understanding of investing and the stock market, and this book was a good place to start. I utilized the 2012 book (cause that’s what the library had), and while I would have preferred the most recent addition, it was still very useful. My biggest critique was that Malkiel sometimes forgot who his audience was supposed to be. There were times the author explained things very well and with the thought that this book is meant for newbies in the world of finance. Unfo ...more
Amr Khaled
May 14, 2018 rated it did not like it  ·  review of another edition
Very tedious.
Annoyingly pretentious.
Absurdly uncalled for.

Just when the books starts to have something going for it, it immediately back pedals & delves into another story from history. And although I normally enjoy these stories for the wisdom they have, the writer is extremely talented in removing anything resembling interest in his tales.
I could swear I had previously read half a dozen of those stories in other books or articles & they sounded very intriguing when I read them there, but in th
...more
Leonard
Aug 10, 2016 rated it really liked it  ·  review of another edition
A common sense approach to investing. No hypes.
Dorotea
Solid, basic, advice.
Thijs Niks
Ok overview of why active investing doesn’t work. Mediocre overview of why passive investing works.
wv
Dec 06, 2021 rated it it was amazing  ·  review of another edition
I read pretty much the entire book on a train on the way to work so that attests to the digestibility of Malkiel's writing. And digestible it must be because all 400ish pages are meant to help the common investor by dispensing one solid adage, perhaps the only one that's withstood every crash and turmoil: you cannot beat the market consistently.

A. The market is dumb, but you're not any smarter
The book starts off with a history of financial crashes and market irrationality ever since the concept
...more
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Bloomfield Public...: A Random Walk Down Wall Street 1 24 May 04, 2013 07:14AM  

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