A Random Walk Down Wall Street: The Best Investment Advice for the New Century [Englisch] [Taschenbuch]

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 -- Dieser Text bezieht sich auf eine vergriffene oder nicht verfügbare Ausgabe dieses Titels.

Almost every list of must-read investment books (including Booklist's own "Twenty Timeless Business Books") includes Malkiel's Random Walk. Malkiel, who holds an endowed economics professorship at Princeton, first wrote his perennial bestseller in 1973, and this is its seventh updating and revision. His basic premise is that it is impossible to outperform the market over the long run. This argument antagonizes those who pick and recommend individual stocks, but it also is the rationale behind the growing number of stock index funds that have become so popular. Malkiel continues to update his guide so that he can use the most current performance data to validate his theory. Each revision also includes an evaluation of newer forms of investment vehicles. This time, Malkiel has reorganized much of his material and specifically addresses the spectacular price explosion in Internet stocks. Over the years, Malkiel added and fine-tuned his "Life-Cycle Guide to Investing," which covers the full range of investment strategies over one's life span. David Rouse -- Dieser Text bezieht sich auf eine vergriffene oder nicht verfügbare Ausgabe dieses Titels.

This revision of a classic takes the dot-com implosion into account.
Copyright 2002 Reed Business Information, Inc. -- Dieser Text bezieht sich auf eine andere Ausgabe: Gebundene Ausgabe .

You'll learn a lot but you won't feel you're working. -- Dieser Text bezieht sich auf eine vergriffene oder nicht verfügbare Ausgabe dieses Titels.

...a most entertaining and useful book... -- Dieser Text bezieht sich auf eine vergriffene oder nicht verfügbare Ausgabe dieses Titels.

"There are two types of books about investing: those that treat their readers like simpletons and those that assume they are comfortable with Boolean algebra. And there is A Random Walk Down Wall Street."

The million-copy bestseller, now fully up-to-date and ready for post-dot-com investors. "A Random Walk Down Wall Street" is well established as a staple of the business shelf, the first book any investor should read before taking the plunge and starting a portfolio. -- Dieser Text bezieht sich auf eine andere Ausgabe: Taschenbuch .

This work takes a shrewd look at the high-tech boom and its aftermath, and shows how to maximize gains and minimize losses in the era of electronic brokers and flashy investment vehicles.

Revised Edition.

Burton G. Malkiel, geboren 1932, ist Professor für Wirtschaftswissenschaften an der Princeton Universität, war Mitglied im Rat der Wirtschaftsberater, Präsident der American Finance Association und Dekan der Yale School of Management.