Burton Malkiel's "A Random Walk Down Wall Street" examines investment strategies, advocating for broad diversification through index funds based on the efficient market hypothesis.

The book explores the history of market bubbles and investor behavior, highlighting how psychological biases often lead to poor decisions.

Malkiel critiques technical and fundamental analysis as reliable methods for outperforming the market. He introduces modern portfolio theory and factor-based investing while cautioning against active management's high costs and tendency to underperform.

Practical advice is offered on asset allocation, retirement planning, and avoiding common investment pitfalls. The author emphasizes long-term investing and minimizing trading to achieve financial success.