Sublime

Burton Malkiel’s wonderful book A Random Walk Down Wall Street. Malkiel’s central idea is that a stock’s price incorporates all the available knowledge about the value of the company and the best predictions about the future of the stock.

Burton Malkiel, who was kind enough to write the foreword for this book, has written one of the best: A Random Walk Down Wall Street. Rather, this chapter is about what a basic understanding of markets—the ideas covered in the first two chapters—can tell us about personal investing. Any investment strategy must obey the basic laws of economics, jus

successful investor is generally a well-rounded individual who puts a natural curiosity and an intellectual interest to work.

Caveat 2: Precise figures cannot be calculated from undetermined data.

Caveat 3: What’s growth for the goose is not always growth for the gander.

Third, money is a store of value.

Determinant 4: The level of market interest rates.