Burton Malkiel

Burton Malkiel is a prominent economist and finance expert best known for his book "A Random Walk Down Wall Street." He advocates for the idea that financial markets are efficient, meaning it's very difficult to consistently beat the market through active investing. Instead, he recommends buying and holding diversified index funds, which aim to match overall market performance. Malkiel's work emphasizes the importance of long-term investing, minimizing costs, and understanding that unpredictable short-term market movements make trying to pick individual stocks less effective. His ideas have significantly influenced modern investment strategies and personal finance.