Introduction to "A Random Walk on Malkiel on Wall Street"If you are a new investor interested in the history of investing or how to make investments, purchase this book by Burton G. This book is ideal for any experienced investor who also wants to brush up on their knowledge of investment techniques and theories. There aren't many books written about investing. A Casual Walk Down Wall Street is divided into four parts which include; Stocks and their value, how the pros play the biggest game in town, new investing technology, and a practical guide for hikers and other investors. In total, there are fifteen chapters covering many key points that many will find interesting and informative. The first edition of A Random Walk Down Wall Street was written more than forty years ago. Burton Malkiel's first piece of advice to investors in his foreword is that “Investors would be far better off buying and holding an index fund than attempting to buy and sell individual stocks or actively managed funds” (Malkiel, page 17). You will learn that buying and holding all the stocks in an average bond stock market will most likely outperform professionally managed funds. I agree with Burton's theory on this strategy. On page 17 he uses an example that shows how an initial investment of ten thousand dollars in an index fund would have a greater return than an investment in purchased shares of a managed fund. The author created this tenth edition of the book because there have been significant changes in the financial tools available. Many investors can benefit from using newer financial tools and critical analysis. The 10th edition of this book also provides a clear description of academia...... middle of paper...... very rare. I agree with this statement because any flaw within the system or process can lead to incorrect or incorrect judgments. To keep things simple, I would use my instincts and research to invest and build a portfolio for myself. If the portfolio was successful, I would feel better and proud of myself for making the decisions I did. If I used a company or broker to manage my portfolio and large losses occurred, I would most likely stand there in awe and blame others for what happened. It is important to understand the risk-return tradeoffs available (Malkiel, page 415). The author refers to investing as a game. I agree with this statement because with any game it's too much fun to give up. Works cited Malkiel, Burton G. A Random Walk Down Wall Street: The Time-Tested Strategy For Successful Investing. New York: W. W. Norton, 2012. Print.