The Way to Make Money

Paper Summary:

This paper discusses the successful guide to helping people financially, "A Random Walk Down Wall Street" by Burton G. Malkiel. It explains Malkiel's advice of placing one's money in a good fund and letting it stay there. The paper also explains his random walk theory, which discourages trying to outperform the market. Finally, the paper describes Malkiel's ten steps to follow when investing in the stock market.

From the Paper:

"Every year there are scores of books that come out saying, "Make it big on Wall Street!" "Make millions of dollars on the Stock Market!" In most cases, the only one making money is the book publishers. In the majority of situations, none of these approaches work. One book has been around for years, 1973 in fact, and keeps on being republished. That's A Random Walk Down Wall Street by Burton G. Malkiel. The reason why it is so successful? It is a lot of common sense. There are no big bells and whistles, yet following his advice can help people financially."

Sample of Sources Used:

• Malkiel,B. (2003) A Random Walk Down Wall Street. NY: Norton.

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