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Essay / Research Paper Abstract
This 8-page paper is a review of Burton Malkiel's book "A Random Walk down Wall Street." The book discusses a variety of investment theories (supporting that of Modern Portfolio Management) and includes a summary of each of the four parts.
Page Count:
8 pages (~225 words per page)
File: D0_MTwallst.rtf
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Unformatted sample text from the term paper:
spur investment, a variety of experts and gurus have come out with articles and books about the best way to invest in Wall Street companies. The beauty of such theories
is that theyre all so different; and they all of their supporters and their detractors. Burton G. Malkiels book A Random Walk down
Wall Street examines some of these theories, discusses them, and considers whether they are thoroughly viable or not. In this paper, well examine
some of the theories that Malkiel reviews and then provide a summary of the four parts of his book. Well then conclude the paper in terms of whether or not
some of these theories are logic or simply a waste of time. A Summary of Theories As we mentioned in the
introduction above, the stock market investment community has many theories on why stocks behave as they do. In his book, Malkiel takes some of these (and with the exception of
the Modern Portfolio Theory, tends to shoot most of them down). Firm Foundation Theory. Firm foundation theorists note that each stock investment
instrument (whether it be real estate or common stock), has an anchor that is called intrinsic value. Intrinsic value, note the theorists, are based on "careful analysis of present conditions
and future prospects" (29). When market prices fall below the value, this is a strong opportunity for a buyer -- and the fluctuations will be corrected as demand increases.
Malkiel, however, notes that the firm foundation theory lost a lot of wind from its sales during the 1990s, mainly because "value," especially
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