| |||||||||||||||
 Trade In this Item for up to £0.35
Get an extra £5 when you trade in books worth £10 or more until June 30, 2012. Trade in A Random Walk Down Wall Street: A Time-Tested Strategy for Successful Investing for an Amazon.co.uk gift card of up to £0.35, which you can then spend on millions of items across the site. Trade-in values may vary (terms apply). Find more products eligible for trade-in.
|
Frequently Bought Together
Product details
|
More About the Author
Product Description
Review
"[This] timeless classic... offers a vast array of advice on how investors can tilt the odds in their favour." The Observer "...deservedly a perennial bestseller." The Economist"
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.
Inside This Book
(Learn More)
Suggested Tags from Similar Products(What's this?)Be the first one to add a relevant tag (keyword that's strongly related to this product)
|
Sell a Digital Version of This Book in the Kindle Store
If you are a publisher or author and hold the digital rights to a book, you can sell a digital version of it in our Kindle Store.
Learn more
What Other Items Do Customers Buy After Viewing This Item?
Customer Reviews
Most Helpful Customer Reviews
18 of 18 people found the following review helpful
Format:Hardcover
This is an investment classic. The first edition was published in 1973 and has been revised every few years. This 2007 edition is the 8th revision and includes a new chapter on Behavioural Finance.
The author says: "The message of the original edition was a very simple one: Investors would be far better off buying and holding an index fund than attempting to buy and sell individual securities or actively managed mutual funds. Now, over thirty-five years later, I believe even more strongly in the original thesis." And he gives data to evidence this.
The book describes the thinking behind technical and fundamental analysis, including simple expositions of complex subjects like Modern Portfolio Theory (MPT) and The Capital-Asset Pricing Model (CAPM). Whether you agree with the author or not, it would be well worth knowing why the author considers that it is very difficult to profit from either technical or fundamental analysis. For those who nevertheless cannot resist the temptation to pick their own stocks, he gives four rules though these are easier said than followed.
It is also a very entertaining read, e.g. he describes the various periods of speculative madness that have occurred - starting with the tulip craze and the south sea bubble to the more recent growth-stock/new-issue craze, the conglomerate boom, the concept stocks bubble, the nifty fifty "one decision" boom, the Japanese land and stock bubble through to the internet bubble.
The author also highlights other useful considerations, e.g. in the penultimate chapter "A life-cycle guide to investing", he highlights the importance of "distinguishing between your attitude toward and your capacity for risk".
The author says: "The message of the original edition was a very simple one: Investors would be far better off buying and holding an index fund than attempting to buy and sell individual securities or actively managed mutual funds. Now, over thirty-five years later, I believe even more strongly in the original thesis." And he gives data to evidence this.
The book describes the thinking behind technical and fundamental analysis, including simple expositions of complex subjects like Modern Portfolio Theory (MPT) and The Capital-Asset Pricing Model (CAPM). Whether you agree with the author or not, it would be well worth knowing why the author considers that it is very difficult to profit from either technical or fundamental analysis. For those who nevertheless cannot resist the temptation to pick their own stocks, he gives four rules though these are easier said than followed.
It is also a very entertaining read, e.g. he describes the various periods of speculative madness that have occurred - starting with the tulip craze and the south sea bubble to the more recent growth-stock/new-issue craze, the conglomerate boom, the concept stocks bubble, the nifty fifty "one decision" boom, the Japanese land and stock bubble through to the internet bubble.
The author also highlights other useful considerations, e.g. in the penultimate chapter "A life-cycle guide to investing", he highlights the importance of "distinguishing between your attitude toward and your capacity for risk".
Format:Paperback
A good read, it explains a lot of the financial markets (futures, options, etc) as well as selling it's underlying investment scheme. Even if you disagree there are hints on picking stocks. A good read for those who want to be the next Warren Buffet.
Format:Paperback
Malkiel drives home one point: the typical investment manager is no better than a chimpanzee picking stocks at random. That might sound glib but then Malkiel produces impressive stats showing successful managers very rapidly losing their midas touch. That shut me up. The book gives the lowdown on well-known manias (South Sea, Tulipmania), some not so well-known crashes in the fifties and sixties and then Malkiel very impressively explains in simple language some of the sophisticated finance theory taught in MBAs and MSc Finance courses e.g. random walk, efficient market hypothesis, modern portfolio theory, technical and fundamental analysis etc. The first two-thirds of the book are a joy to read and instructive for everyone. The last third of the book is devoted to investment advice and what lets this down (only) for the international reader is that the advice is tailored for an American audience so (virtually) little use to readers who don't have access to that kind of investment market. But perhaps no fear, Malkiel's greatest idea is that every portfolio should be built around index funds where you do not need to pay exorbitant fees to managers who on average year after year generate sub-index returns. Sounds very sound.
Would you like to see more reviews about this item?
Were these reviews helpful?
Let us know
Listmania!
Look for similar items by category
- Books > Business, Finance & Law > Economics
- Books > Business, Finance & Law > Management
- Books > Business, Finance & Law > Personal Finance > Investing
- Books > Business, Finance & Law > Professional Finance > Investments & Securities > Stocks & Shares
- Books > Science & Nature
- Books > Scientific, Technical & Medical
Look for similar items by subject
Feedback
- Would you like to update product info or give feedback on images?
- I am the Author, and I want to comment on my book.
- I am the Publisher, and I want to comment on this book.
|
