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The million-copy bestseller, now fully up-to-date and ready for post-dot-com investors.
Here, in the newest edition of a perennial bestseller, Burton G. Malkiel maps a clear path through the post-dot com financial minefield and gives individual investors the necessary information to manage their money with confidence.
Now more than ever, this sure-footed, irreverent, and vastly informative volume is the best investment guide money can buy. In A Random Walk Down Wall Street you will learn the basic terminology of Wall Street, how to navigate its turbulence, and how to beat the pros at their own game—with a user-friendly, long-range investment strategy that really works. Skilled in the ways of Wall Street, Malkiel shows why a portfolio of securities that simply buys and holds all the securities in a broad index is most likely to exceed the performance of securities carefully picked by professionals using sophisticated analytical techniques.
Investing is too murky a venture to be undertaken without first reading this time-tested guide. You'll learn how to assemble a basic portfolio; the role that your portfolio should play alongside other financials of interest vying for your attention, such as home ownership and life insurance; and how to estimate the potential returns of the stocks, bonds, mutual funds, real estate trusts, and other items you will consider for your investment portfolio.
Savvy to irrational exuberance, deceptive sales pitches, and institutional change, Malkiel brings his characteristic clarity to this completely revised and updated edition, illuminating key decisions facing contemporary investors. Overwhelmed in choosing a fund? Decode the rating game for mutual funds, and discover the unique advantages of index funds over the wide range of riskier—and more expensive—alternatives. Concerned about the global economy? Learn the benefits that come with the risks of international investing. Feeling battered by the taxman? Capitalize on the latest opportunities for reducing, and even eliminating, the tax bite from investment earnings.
This latest edition also includes an update of Malkiel's invaluable "life-cycle guide to investing," showing how to match an investment strategy to each stage of your life.
Sound advice for the wary but ambitious investor, A Random Walk Down Wall Street proves once again that it is possible to be smart and rich.
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