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A Random Walk Down Wall Street

Burton G. Malkiel

A Random Walk Down Wall Street

22min

22min

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A Random Walk Down Wall Streetis presented in the form of a real stroll through the complex world of finance. Malkiel leads his readers down a long path full of stories and examples to explain to them in simple terms, how financial markets work. By studying data and graphs analysts are more or less able to predict how the market is going to go, then non-professionals are able to do the same for themselves. Because anyone can become an investor by remembering that you don’t get rich overnight. Getting rich takes time, patience and careful planning. The best investment a private individual can make is savings, which always pays in the long term. The honour of earning is in the saving.

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Analysis and key concepts

01.

The idea for a walk along Wall Street

02.

The two key concepts of the financial market: investment and speculation

03.

Two approaches to intervene in financial markets: technical analysis is essential

04.

Technical analysis as a method to establish share price

05.

Fundamental analysis as a method to establish share value

06.

Risk analysis as the only constant

07.

Behavioural Finance Theory

08.

Bitcoin and cryptocurrencies as new forms of investment

09.

Practical tips to build a DIY portfolio

10.

An investment plan template for the small saver

11.

Quotes

12.

Take-home message

01. The idea for a walk along Wall Street

Wall Street is the financial centre of New York. That is where the financial markets move. Although people make forecast analyses, the ups and downs of the performance of the stock market are unpredictable. This is why Malkiel uses the metaphor of a walk. The concept of a walk through the stock market was introduced by academics to describe the instability that characterises its trends, as opposed to the professionals, however, for whom it is possible to make predictions on the future trends of the market using charts and analysis. Hence, Malkiel becomes a guide and takes readers on an explanatory tour of the complex world of finance.

02. The two key concepts of the financial market: investment and speculation

03. Two approaches to intervene in financial markets: technical analysis is essential

04. Technical analysis as a method to establish share price

05. Fundamental analysis as a method to establish share value

06. Risk analysis as the only constant

07. Behavioural Finance Theory

08. Bitcoin and cryptocurrencies as new forms of investment

09. Practical tips to build a DIY portfolio

10. An investment plan template for the small saver

11. Quotes

12. Take-home message

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Many useful tips to:

  • Understand how the Stock Market works.
  • Learn about different investment techniques.
  • Take the first steps in the market and begin to invest.
  • Build your own portfolio.

G. Malkiel is one of the most important economists alive. He began his career on Wall Street in the investment analysis sector, managing portfolios and then moved to one of the major investment firms. Always highly active in the market with numerous investments, he summed up his theory in A Random Walk Down Wall Street. His book was first published in 1973 and sold 1.5 million copies. It is now at its12th edition.

Publishing house:

W.W. Norton & Company

Year:

2020

Pages:

480

ISBN:

978-0393358384