15 - 5 - Random Walks and Wall Street

"A Random Walk Down Wall Street, written by Burton Gordon Malkiel, a Princeton economist, is an influential book on the subject of stock markets which popularized the random walk hypothesis. Malkiel 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 2015, there have been eleven editions and over 1.5 million copies sold."- Wikipedia

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