A Random Walk Down Wall Street.
MALKIEL, Burton G.
A Random Walk Down Wall Street.
"In this book I take you on a random walk down Wall Street, providing a guided tour of the complexities of finance": First Edition of A Random Walk Down Wall Street; Lengthily Signed by Burton Malkiel
New York: W.W. Norton & Company, 1973.
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Item Number: 147136
First edition of this Wall Street classic. Octavo, original cloth. Lengthily signed by the author on the front free endpaper with a transcription from the book as follows, “In this book I will take you on a random walk down Wall Street. Burt Malkiel.” Near fine in a near fine dust jacket. Jacket design by Jay J. Smith. Housed in a custom half morocco clamshell box made by the Harcourt Bindery, which is additionally signed by Malkiel on the front panel.
Malkiel's work originally published in 1973 popularized the random walk hypothesis. In it he argues that asset prices typically exhibit signs of random walk and that one cannot consistently outperform market averages. The book is frequently cited by those in favor of the efficient-market hypothesis. As of 2019, there have been twelve editions and over 1.5 million copies sold.
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