Burton Malkiel

Burton Malkiel is an American economist and Princeton professor best known for A Random Walk Down Wall Street, the classic and influential case for low-cost index investing.

Burton Malkiel is a Princeton economics professor and a leading proponent of the efficient-market hypothesis, the idea that asset prices reflect available information and that consistently beating the market is extraordinarily difficult.

His landmark book A Random Walk Down Wall Street, first published in 1973 and continually updated, argues that most investors are best served by low-cost index funds rather than active management or stock-picking. It has become one of the most influential investing books ever written, helping to popularize index investing for ordinary savers.

Malkiel is recognized as one of the foremost advocates of passive, evidence-based investing and a defining voice in modern personal finance.