Stock Price Movements Are Unpredictable
Burton G. Malkiel is a professor of economics at Princeton University. The 10th edition of his widely read book, “A Random Walk Down Wall Street: The Time-Tested Strategy for Successful Investing” (W. W. Norton & Company, 2011), was published in January. I spoke to him about the case for using index funds.
—Charles Rotblut, CFA
Charles Rotblut (CR): Could you explain the term “random walk”?
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Burton Malkiel, Ph.D. , Ph.D., is the Chemical Bank Chairman’s Professor of Economics at Princeton University. The 10th edition of his widely read investment book, “A Random Walk Down Wall Street” (W. W. Norton & Company, 2011), was recently published.