A Random Walk Down Wall Street.

MALKIEL, Burton G.

$750.00

Item Number: 140797

New York: W.W. Norton & Company, 2023.

First edition of the 50th anniversary of this classic work, one of the “few great investment books” (Andrew Tobias). Octavo, original cloth. Boldly signed by Burt Malkiel on the title page. Fine in a fine dust jacket. Jacket design by Pete Garceau. Rare and desirable signed.

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.