Random Walk Down Wall Street

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Burton G Malkiel, the author of A Random Walk Down Wall Street, gives me the reader an easy way understand information about personal investing in today's stock market.The book is divided into four parts: Stocks and their values, the new investment technology, a practical guide for random walkers and other investors, and how the pros play the biggest game in town.This book reflects on many different aspects for a individual on what are the best ways for that person to invest their money.The title of this book means to methat one person is not able to predict the future value of a stock by looking at the history of what it has done in the past.Therefore, in this new revision, Malkiel reflects onhis theory that the market is impossible to beat whether one is an expert or not.His knew theory now states that it might be possible to beat the market due to surtin techniques of stock selection. This book gives you the general guidelines in becoming a smart investor on Wall Street.
The one theroy that made the most sense to me wasCastle-in-the-Air.This theory states that no stock has intrinsic value. the only value a stock has is what people are willing to pay for it, According to this theory.I like this theory because, it not only applies to stock value, it applies to every private good.Someone in chicago would pay a lot more for an umbrella than someone in the Sahara desert.I agree with this, but the technical analysis I do not understand completely. Why would I Looking at the past trends to predict the future trends. For what reason would I do this, I find this stupid and ridiculous.I am not sure how to state this but I will try, Trends are set by the environment that surrounds it I understand, but isn't theenvironment under constant change, so in my opinion how could the past predict the future stock to rise.The fundamental analysis,is more random than any other