A Random Walk Down (Occupy) Wall Street
The title of this post is inspired by the well-known investment book, A Random Walk Down Wall Street by Burton G. Malkiel (1973). I’ve never read the book, but the idea that Malkiel tried to convey is pretty easy to summarize:
Since stock prices cannot be predicted in the short term, argues Malkiel, individual investors are better off buying and holding onto index funds than meddling with securities or actively managing mutual funds. Not only will a broad range of index funds outperform a professionally managed portfolio in the long run, but investors can avoid expense charges and trading costs, which decrease returns. [...] His witty, acerbic style and persuasive arguments will delight readers but, alas, leave Wall Street unmoved.
- Amazon.com
In honor of the Zuccotti Park eviction, below are pictures of my random walk downtown about two weeks ago. Hope you enjoy.
