Burton G. Malkiel author photo

Burton G. Malkiel

出生: August 28, 1932 – Boston, Massachusetts, United States

Burton G. Malkiel is an American economist and investment writer known for explaining efficient markets, portfolio theory, and long-term index investing to general readers. His best-known book, A Random Walk Down Wall Street, became a classic personal-finance guide, selling more than a million copies and shaping generations of individual investors.

传记与作者历程

Burton G. Malkiel’s career joined scholarship, public service, and practical finance in a way that gave his writing unusual authority. Born in Boston on August 28, 1932, he attended Boston Latin School, earned a B.A. from Harvard College in 1953 and an MBA from Harvard Business School in 1955, then served three years as a first lieutenant in the U.S. Army Finance Corps. After a period at Smith, Barney & Co., he returned to academic economics, completed a Princeton Ph.D. in 1964, and joined the Princeton faculty that same year. Two later turning points widened his influence: service on the President’s Council of Economic Advisers from 1975 to 1977 and his deanship at the Yale School of Organization and Management from 1981 to 1988. Those roles helped make him not only a theorist of markets, but also a public-facing interpreter of how institutions shape investor behavior. ((https://www.princeton.edu/~bmalkiel/LongVitae-update%20March%201%2C%202017.pdf))

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名言

quote
Above all, we believe that financial markets are efficient because they don’t allow investors to earn above-average risk-adjusted returns
-The Efficient Market Hypothesis and Its Critics
quote
The housing bubble is the most recent example of the asset-price bubbles that have often afflicted capitalist economies
-Bubbles in Asset Prices
quote
The only way to obtain a reasonably generous and secure income stream is to accept sensible risks
-The 'Preferred' Path to Higher Returns
quote
A dollar invested early in life is much more important than the dollar you save later in life
-Burt Malkiel’s Rule for Young Investors: Save Regularly
quote
The success of Vanguard, and now Wealthfront, bodes extremely well for index investing in the decades ahead
-Has Indexing Become Too Popular?
quote
One thing you can be sure of in investing is that the lower the fee, the more stays with investors
-Burton Malkiel Joins Wealthfront As CIO
quote
I don’t confuse day traders with serious investors
-The Day-Trading Pandemic

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社区声音

"Talk to 10 money experts and you're likely to hear 10 recommendations for Burton G. Malkiel's classic investing book"

Wall Street Journal

"Burton G. Malkiel wrote the investment classic that sparked the shift toward low-cost passive index investing"

CNBC

"No one knows more about investing than Charley Ellis and Burton G. Malkiel"

Consuelo Mack

"Do you want to do well in the stock market? Here's the best advice: buy Burton G. Malkiel's book"

Los Angeles Times

"Dr Burton G. Malkiel is a Princeton professor and leading proponent of the efficient market hypothesis"

Investors' Chronicle

"Burton G. Malkiel, a Princeton economist and professional investor, backs it all up with statistics, charts and studies"

Publishers Weekly

"Burton G. Malkiel is the Princeton economist whose book launched the index-investing movement"

CBS News

"The efficient-market hypothesis was popularized by Burton G. Malkiel in his 1973 book A Random Walk Down Wall Street"

The Fiscal Times

"Daniel Akst said Burton G. Malkiel's book retains the author's trademark blend of erudition and wit"

Daniel Akst

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