November 6, 2008, DJIA: 8695.79
I recently had the opportunity to hear Princeton economics professor and multi-book author, Burton Malkiel. He spoke to a small number of advisors in Seattle during an Investment Symposium sponsored by Vanguard. His book A Random Walk Down Wall Street, originally published in 1973 and now in its 9th edition, is a perennial bestseller and one of my favorite investment books. I was excited to hear Burton’s current thinking on the market and the economy and we thought you may be interested in a summary of the insights shared during this unique discussion. This short paper provides you with an overview on how the financial crisis took shape, the implications for our financial system, the economy, and Burton’s advice for investors right now. I start with his advice for investors before moving to a summary of the financial crisis and its implications
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