Burton G. Malkiel

Inscribed first edition, association copy of Princeton economist Burton G. Malkiel's hugely influential introduction to the stock market.

• Burton G. Malkiel (American).
• New York: W.W. Norton & Company, (1973).
• 28, [1] pages. 
• Inscribed by Malkiel on the front free endpaper: "For Andrew Rudd / with my best / wishes / Burt Malkiel."
• Original green cloth, in original unclipped dust jacket, designed by Jay J. Smith.

"Yes, history does tend to repeat itself in the stock market, but in an infinitely surprising variety of ways that confound any attempts to profit from a knowledge of past price patterns."

Malkiel's Random Walk popularized the idea that individuals building their own portfolios can't outperform the stock market as a whole. In doing so, the book paved the way for the enormous growth of index funds over the last fifty years. The book has been wildly popular and influential, going through more than ten editions.

This copy is inscribed to Andrew Rudd, longtime executive at BARRA, venture capitalist, and faculty member in finance at both Cornell and UC Berkeley. He published widely on financial topics (especially risk and allocation management, topics on which Malkiel and Random Walk would have undoubtedly had an influence).