A Random Walk Down Wall Street

Name: A Random Walk Down Wall Street
Author: Burton G. Malkiel
ISBN: 9781324051138

The Time-Tested Strategy for Successful Investing

Written byBurton G. Malkiel

A classic guide to investing, updated many times since 1973. Malkiel explains why it's so hard to beat the stock market, and why low-cost index funds are a sensible choice for most people.

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Published1973
GenrePersonal finance
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01Prices are hard to predict
Short-term moves in share prices are close to random, so picking winners and timing the market rarely works for long.
02Most experts don't beat the market
Over time, most professionally managed funds do worse than a simple index of the whole market, after fees.
03Keep costs low
Fees eat into returns year after year. Low-cost index funds keep more of the growth for you.
04Diversify widely
Owning many companies, and different kinds of assets, lowers the risk of any single loss.
05Invest for your stage of life
How much risk to take depends on your age, your goals and how well you sleep when markets fall.
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Prices are hard to predict

Short-term moves in share prices are close to random, so picking winners and timing the market rarely works for long. Pick one small way to put this into practice before tonight.

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