Barry Ritholtz, Columnist

Burton Malkiel's Random Walk

If you can't beat the market, try to match it.
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This week on a special rebroadcast edition of our Masters in Business podcast, we speak with Burton Malkiel, economics professor at Princeton University and a leading advocate of index investing. Malkiel is best known for the book “A Random Walk Down Wall Street,” with more than 1.5 million copies sold.

Vanguard Group Chairman and Chief Executive Officer Bill McNabb recently told a conference at the Wharton School at the University of Pennsylvania that the rise of chartered financial analysts (CFAs) has “fueled the growth of low-fee passive funds over actively managed offerings.” Maybe this is coincidental, but maybe not: There are only so many investment opportunities, and all of them are being chased by so many smart, trained professionals.