A Must-Read for Us Gen-X'ers and Later Generations Wishing to Actually Retire Someday

books:


	• A Random Walk Down Wall Street: The Time-Tested Strategy for Successful Investing, Ninth Edition Burton G. Malkiel W. W. Norton, 2007 - 416 pages average customer review:based on 50 reviews view larger image
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highly recommended

good, fun read, with lots of valuable insight.

i'm a beginner in the field of personal investment and have been looking for a book to help me understand the basics of investment. i have found that in 'random walk'. it's fun to read as well as a well researched book. i am hoping it'll help me make some money :).

Long, interesting analysis of the markets

Deep investing instruction. Not for the novice. Great peeks inside the inner workings of Wall Street; covers historical reviews of the efficiencies of the markets, as well as the glaring problems investors failed to recognize and had to endure; reviews of investment bubbles and manias. Some great technical and fundemental analysis offered.

What I took out of it was one section that happened to be what we all work on. Focus on how to break out of the same trading bad habits, and mastering a successful formula through time tested techniques (stop losses, selling in pieces, quickly reducing positions and re-evaluating losing positions, scaling into strong positions. You name it.

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Index-funds only for me from now on

A book that leaves a lasting impression, and changes your mind, forever, about how to invest for the long run.

The first half of the book goes through the basic of index funds, then moves onto the current views of how people try to make money in the market, from the straightforward approaches to some really weird ideas that people have. Malkiel goes through each of them, using mathematics and psychology to explain which do and which don't hold any water - and what the chances are of *predictably* and *consistently* producing returns that *beat the market average* for each of those techniques.

The only downside (from my perspective) is that the book is aimed at a US-centric audience - which means it automatically rules out the larger part of the reading audience... as this book would otherwise be perfect for the entire world.
However, I strongly believe there are enough useful chunks of information that it's well worth buying, even for the European and Aussie markets.

I never thought I'd have the time or knowledge to be able to beat the average broker at the market, but I'd always thought there was more room to move than this. Seems that my best bet is also the easiest!
Index funds for me from now on!

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Classic Book with Practical Insight.

Good book for the average person with little time or interest in trading or investing. For those people the book makes sense. However, there are traders as found the book Market Wizards or those who use trading programs such RMC Q Trader that will beat the market.

A Must-Read for Us Gen-X'ers and Later Generations Wishing to Actually Retire Someday

It's amazing how the 35+ years since the first edition have consistently proved Malkiel correct. I would recommend this book to anyone new to the U.S. workforce who finds him- or herself faced with deciding what to do about a new employer's 401(k) offering.

In the U.S. today, since the responsibility for a secure retirement rests almost solely on the individual, it is crucial to make the right decisions early on, lest you cost yourself a great deal of money in the future. It is also next to impossible to do so, as our society does a woefully inadequate job of preparing us for these decisions.

Previous generations could rely on defined benfit plans and Social Security, so while we can turn to our parents for advice in many things, this is one area they never had to know much about. While I took an excellent personal finance course in college, we did not talk much, if at all, about retirment savings. Our consumption-oriented society does little to encourage prudent money management. Finally, if there is a more difficult mental activity than considering one's retirement at age 21, I would like to know what it is.

Not too many of us consider ourselves investors at 21, yet once we sign up for that 401(k) plan, we absolutely are. Malkiel uncomplicates what can be a complicated and intimidating world for those unfamiliar with it, and give clear, rational advice in an entertaining writing style. I wish I had picked up this book when I first enrolled in a 401(k) plan back in 1994; I would undoubtedly have more money in my account than I do now.

If you know someone about to finish school and enter the workforce, I cannot think of a better gift to give. If you yourself are confused by the choices offered in your company's retirment plan, I would say that the money you invest (yes, invest) in this book will enjoy an exponential return. Rather than an absurd, get-rich-quick scheme, you will find an easy-to-understand, rational guide to building wealth slowly and deliberately.

Happy investing to us all!

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