In 1973, Prof. Burton Malkiel's Random Walk Down Wall Street hit the bookshelves and the world of investing would never be the same again. Not only did Prof. Malkiel question the conventional wisdom that the "smart Wall Street money" knew best but he also made a revolutionary suggestion: give individual investors an opportunity to "buy the market." The foundation for the index fund revolution that followed had been laid and Prof. Malkiel would play a leading role. In this NGPF podcast, he summarizes the wisdom of index fund investing and its advantages for the individual investor. He also shares his experiences as a director at Vanguard in its formative years, recalls his favorite Jack Bogle stories and describes the next investing revolution. Enjoy!
