Winning Investment Strategies


Burton Malkiel, a noted economist, predicted that the eighties would be a boom period for the stock market. He suggested that the best investment strategy for overcoming double-digit inflation is the common stocks, and provided strong proofs on why these stocks are the best possible hedge against inflation in this decade. This book is for anyone who is looking ahead at the inflationary eighties and wondering how to invest wisely. The author drew on important new findings about inflation and corporate profits, revolution in investment technology, and his own analysis of price levels in the stock market.

Table of Contents


Acknowledgments from Earlier Editions

Part 1: Stocks and Their Value

  1. Firm Foundations and Castles in the Air

  2. The Madness of Crowds

  3. Stock Valuation from the Sixties through the Nineties

  4. The Biggest Bubble of All: Surfing on the Internet

  5. The Firm-Foundation Theory of Stock Prices

Part 2: How the Pros Play the Biggest Game in Town

  1. Technical and Fundamental Analysis

  2. Technical Analysis and the Random-Walk Theory

  3. How Good is Fundamental Analysis?

Part 3: The New Investment Technology

  1. A New Walking Shoe: Modern Portfolio Theory

  2. Reaping Reward by Increasing Risk

  3. Potshots at the Efficient-Market Theory and Why They Miss

Part 4: A Practical Guide for Random Walkers and Other Investors

  1. A Fitness Manual for Random Walkers

  2. Handicapping the Financial Race: A Primer in Understanding and Projecting Returns from Stocks and Bonds

  3. A Life-Cycle Guide to Investing

  4. Three Giant Steps Down Wall Street

Some Last Reflections on Our Walk

Supplement: How Pork Bellies Acquired an Ivy League Suit: A Primer on Derivatives

Appendix to Supplement: What Determines Prices in the Futures and Options Markets?

A Random Walker's Address Book and Reference Guide to Mutual Funds