A Random Walk Down Wall Street

Burton G. Malkiel, A Random Walk Down Wall Street, W.W. Norton & Company, 2019

In this book, Mr. Malkiel 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.