The Voluntary Life: 155 Review of A Random Walk Down Wall Street by Burton Malkiel

14 May 2014

155 Review of A Random Walk Down Wall Street by Burton Malkiel

This week's podcast episode is a discussion of Burton Malkiel's famous investment book "A Random Walk Down Wall Street". Malkiel's key point is that stock market prices are inherently unpredictable. He further argues that investment advisor techniques such as technical analysis and fundamental analysis cannot be used to reliably beat market averages. In light of this, he recommends the alternative approach of passive investment.
In the podcast, I summarise the contents of the book, discuss the main arguments, outline some criticisms, and suggest other books and ideas that may be of interest.

Show Notes:
Listen to Episode 155


  1. Hi Jake, great review of the book. I'm curious, have you read Harry Browne's 3 flagship investment books?
    How to profit from the coming devaluation
    You can profit from a monetary crisis
    New profits from a monetary crisis

    1. Thanks Alan. I've not read those books. I assumed that they were more geared towards what was happening at the time in the early 1970s. Have you read them? I do have his book "Why The Best-Laid Investment Plans Usually Go Wrong", which is a more detailed take on the Permanent Portfolio and I hope to read that this summer.

    2. Hi Jake. Correct, they were relevant to the time - but they are even more relevant to the time now!
      If you read them 3 books it would radically change your investment perspective I think. Have you listened to, or read any of Doug Casey's work?


Note: only a member of this blog may post a comment.