Investing is like taking a random walk down Wall Street from "summary" of Random Walk Guide To Investing by Burton G Malkiel
Imagine you are walking down Wall Street, surrounded by the hustle and bustle of the financial district. You have a destination in mind, but as you navigate through the crowds and the chaotic market movements, you find yourself constantly adjusting your path. The stock prices are changing rapidly, influenced by a myriad of factors beyond your control. In the world of investing, this constant need to adapt and adjust is akin to taking a random walk down Wall Street. Just like how you cannot predict the movements of the crowd or the fluctuations in stock prices, investing involves a degree of unpredictability and randomness. Even seasoned investors cannot accurately forecast the future performance of individual stocks or the market as a whole.
The concept of a random walk down Wall Street suggests that stock prices reflect all available information and are therefore unpredictable in the short term. This idea is ...
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