100-Day Reading Sharing Plan - Day 53

Lost so much, might as well share a book. 😁

"A Random Walk Down Wall Street"

1. The first edition's investment advice was simple: If investors buy and hold index funds based on large indices, rather than struggling to trade individual stocks or actively managed funds, their financial situation would be much better.

2. If you can't explain a hypothesis or theory clearly to a six-year-old child, it means you don't understand it yourself.

3. Public information is reflected in stock prices without delay.

4. However, it is entirely unclear whether systematic underreaction or overreaction to information provides stock investors with opportunities to earn excess returns.

5. The efficient market hypothesis does not mean that stock prices are always "correct," nor does it mean that all market participants are always rational.

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