(Marketwatch) There aren’t many books about investing that remain relevant over 40 years after they were first published. Burton Malkiel’s A Random Walk Down Wall Street, first published in 1973 and now in its twelfth edition, is one. Malkiel’s observation — that short-term fluctuations in the markets make stocks unpredictable and that it’s thus usually wiser for individual investors to put most of their money in broad index funds — helped spark the decades-long boom in passive investing.
Investing legend Burton Malkiel on day-trading millennials and the end of the 60/40 portfolio
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