A Random Walk Down Wallstreet by Burton Malkiel
Navigating through the endless sea of available financial books overwhelms the most prudent of advice seeking pecuniary students. 99% of the books regurgitate elementary apothegms embellished with unoriginal inspirational stories. I’ve read many of those in the past, which hardened my senses to become permanently skeptical when opening a new financial book. However, to my pleasant surprise, A Random Walk Down Wallstreet left me with the feeling that I have expanded my knowledge in monetary matters.
Burton Malkiel’s bio is impressive, and he does a great job summarizing a careers worth of knowledge into one book. He explains irrational bubbles, investigates the past stock market eras, explores fundamental and technical analysis, advocates the efficient market theory and lays down the foundation of a successful investing lifestyle. Most importantly he provides actual research and evidence to back up his work, something that is lacking from nearly all the other financial books I have come across. Refreshing indeed.
Though sometimes the books does get a tad technical, I believe it is suitable for anyone comfortable with financial basics. It is well worth the read for those yearning to augment their investing knowledge.