A Random Walk Down Wall Street

"A Random Walk Down Wall Street" is a book by Burton Malkiel that explains how financial markets often behave unpredictably, making it difficult to outperform the overall market consistently. It suggests that stock prices move in a seemingly random manner due to numerous unpredictable factors, and therefore, trying to pick individual stocks or time the market is usually ineffective. Instead, the book advocates for passive investing through diversified index funds, which tend to provide steady returns that mirror the overall market over time. The core idea is that the market's movements are largely unpredictable, emphasizing long-term, broad-based investment strategies.