©2007 W.W. Norton & Company, Inc.; (P)2008 Recorded Books, LLC
"His witty, acerbic style and persuasive arguments will delight readers..." (Publishers Weekly)
The book itself gets 5 solid stars from me. One aspect of my life, personal finance, was profoundly and permanently changed by this book. It convincingly knocks down most of the crap you get from the mainstream media about investing and replaces it all with a few simple, irrefutable principles. All of it is carefully backed up with decades of academic research. There are parts of the audiobook, though, that are a little hard to follow, such as equations that would look very simple on the page, but require concentration to listen to. Still, I recommend this audiobook.
Say something about yourself!
This is the newest edition of the book and remains an important tutorial on investing. There are other books which present these lessons in more interesting terms, but none are as complete as Malkeil's.
Burton does a great job of arguing for non-financiers to simply buy and hold broadly among many areas of the economy. He takes many champions who have wowed the market, then tells the rest of the story about how they crashed and burned soon after, including LTCM and its Nobel prize winning geniuses. He addresses many, many so called winning investment strategies (I defy you to name one he doesn't cover) then shows how in reaily they are much more likely to be get poor strategies than break even or get rich. He also covers in useful detail the ear tickling pitches given to non-financiers (broker can get in on a highly exclusive IPO) and explains why these too are not the path to investment riches. Then he describes characteristics of a simply buy and hold strategy, with a few instances where a non-financier who wants to spend some time at investing might find some good opportunities.
There are a lot of useful concepts and ideas, but why say it in 5 minutes when you can take 50? Unfortunately I couldn't hang in there and keep my attention on it, and finally gave up about half way through. Maybe an abridged version would work better?
Well document and highly accessible, this book is must reading for any investor, regardless or experience and the amount available to save. It provides a sound framework for thinking about investments.
I benefitted by listening to this book, however the print version is better. The print version is newer and takes into account the stock market crash of 2008. Also, it has some useful graphs that can't be explained in narration.
The most memorable moment of this book is the idea that chimpanzees throwing darts at random stocks may do just as well or better than a broker.
This is a good read for the car. The narrator does a fine job.
Malkiel Burton's writing had me LOLing more than I expected for an investment book. It kept me interested and I've listened to it multiple times.
I took Malkiel Burton's advice and it's paying off nicely. His style of investment management is fairly low risk, so it's not too nerve-wracking.
This is a good book for starter and I strongly recommend for anybody who is thinking investing but has no idea where to start. However, if you already possess some college level knowledge on finance, this book might not be for you. .........
Sometimes broad, sometimes in-depth
Old lady and the genie.. ;)
Performance was top-notch
Listened to on my daily commute, over about a week
I had been aggressively save for my retirement in my late 20s. Experimenting with several way to improve the portfolio with not so successful result, now in my 40s, I certainly can related to many idea and follies the author had mentioned in his book.
I found this book to be empirical, practical, and informative. Strongly recommended for anyone who serious about saving for retirement,
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