 "How to beat the market")
There are few books in the investing world as well known as Burton Malkiel’s A Random Walk Down Wall Street. First published in 1973, it has never been out of print, and is now in its 12th edition. Its thesis is that “a blindfolded monkey throwing darts at a newspaper’s financial pages could select a portfolio that would do just as well as one carefully selected by the experts.”
To put it another way, the market is so efficient that even professional investors have little chance of beating it on a regular basis. If there’s one reason index funds, which replicate
