|
Written ostensibly for the individual investor, A Random Walk Down Wall Street is Burton Makliel's treatise on investing. However, he paints a bleak and cynical picture of the investment profession that is outdated considering the current level of regulation and nascent generation of CFA and other certified professionals. Beginning with a rather interesting historical account of bubble markets, Malkiel proceeds to poke holes in the techniques and very profession of technical and fundamental analysts. His approach is well constructed and argued--compelling me to rethink my position on efficient-market theory. The first half of the book is entertaining and intellectually stimulating, but the pace slackens in the second half, which often reads like a drab textbook on financial planning. That said, there are investing tips sprinkled throughout that make the laborious task of reading these sections worthwhile.
If you have the patient for 30 years hold, you are already a winner.Also as another reviewer said, he put a very limited info about someone like buffet invest return.I hate the author hide so many important info which may against his theory. How long you should hold index investment.
The author give a lot of Selective cases to show index fund outperform many fund or stock. Here are two important thing the author avoid to answer.1.
The book suggest you should invest index instead of others. you almost get zero return for over 17 years.2.
When is best time to invest index. If you invest index on 1964, then you sell it on 1981.
all samples seems about 30 to 40 years. I dont believe he donot know.Leave this book alone, all information provided by this book are selected and only for support the author's theory.I do not know why so many people talk about it is a classic book and give five star.
I'm an investment industry professional and was looking for a book to give to my college-age daughter who is interested in learning about investments. This was the first book that came to mind, and while I was at it, I bought a copy for myself, since I hadn't read the book in about 15 years.It continues to be a classic. Well-written, with a nice combination of practical advice and a very accessible explanantion of the key theories.A must-have in any investment library.
The book was in better condition than stated in the Amazon adThe book was very well packaged against damage in transitThe book arrived much earlier than expected.All in all, I am delightedDal Burns
The author clearly demonstrates how this is an inherent phenomena in the investing world, as we have recently experienced, and shows us ways to better understand and deal with these situations. If you are trying to read one book only on this subject, this is probably the book that I would recommend. This book is an extensive and complete review of the investing sector, with a particular focus on equities. I also liked the discussion about technical vs fundamental analysis of equities, when each should be used and how to harness the power of each. If you are quite familiar with this subject, you may not find as much depth as you hope but this book would serve as a historical reference. I particularly recommend reading the sections relating to the formation of bubbles and the subsequent collapses throughout the decade. Finally, although the author does take a side on some of the topics he discusses, he does a great job of objectively presenting the different view points which is key for any reference material. A recommended primer.
|
