This week on a special rebroadcast edition of our Masters in Business podcast, we speak with Burton Malkiel, chairman’s professor of economics at Princeton University, and is a two-time chairman of the economics department. Professor Malkiel served as a member of the Council of Economic Advisers (1975–1977), president of the American Finance Association (1978), and Dean of the Yale School of Management (1981–1988). He was a director for the Vanguard Group for 28 years.
Currently, he is Chief Investment Officer to software-based financial advisor, Wealthfront. He is best known for A Random Walk Down Wall Street, now in its 11th edition, with over 1.5 million copies sold.
Our conversation range far and wide, and Malkiel discussed everything from how he urged the creation of index funds to why “a blindfolded monkey throwing darts at a newspaper’s financial pages could select a portfolio that would do just as well as one carefully selected by the experts.”
All of the books referenced are after the jump.
Next week, the return of Ken Fisher of Fisher Investments.
Burton Malkiel Books
Thinking, Fast and Slow by Daniel Kahneman
Enough: True Measures of Money, Business, and Life by John Bogle