A recent New York Times' article features an interview with JRCPPF faculty affiliate Burton Malkiel, marking the 50th-anniversary edition of his famous book. In 1973, Malkiel, then a Princeton economics professor, published a book called "A Random Walk Down Wall Street," which essentially argued that the average investor should not waste time trying to pick stocks. Instead, the best strategy for long-term returns was to own a broad slice of the market. Malkiel's book was based on contemporary academic research on market efficiency, asset pricing, and portfolio theory and helped translate this research for a general audience. Fast forward 50 years, the book is now in its 13th edition, with close to two million copies sold.
On January 24, Prof. Malkiel discussed the books' legacy and how investors have applied his insights to dramatically reshape the financial industry. Watch the websinar moderated by Prof. Stephen Redding.