A Random Walk Down Wall Street
The Time-Tested Strategy for Successful Investing
Why low-cost index funds usually beat stock pickers.
Malkiel popularizes the random walk hypothesis, arguing that stock prices move unpredictably and that few investors can consistently beat the market. He surveys technical and fundamental analysis, market bubbles, and modern portfolio theory, and makes the case for low-cost, diversified index investing.
It is a sharp antidote to overconfidence about predicting markets, which is useful judgment for any founder allocating personal or company wealth. The emphasis on humility, cost, and diversification carries over to thinking about risk in general.
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Questions, answered
What is A Random Walk Down Wall Street about?
It is a sharp antidote to overconfidence about predicting markets, which is useful judgment for any founder allocating personal or company wealth. The emphasis on humility, cost, and diversification carries over to thinking about risk in general.
Where can I find books founders recommend?
The eChai founder bookshelf ranks the books founders in the network recommend to each other.
