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Blindfolded Quote by Burton Malkiel

“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 experts,” quote by Burton Malkiel
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“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 experts,”

Burton Malkiel

About This Quote

Source Book: A Random Walk Down Wall Street, 1973

Random selection can match expert choices, highlighting market efficiency and luck.

In simple terms: Random choices can match expert picks.

Key Takeaway

Question the value of expert advice.

Themes

finance efficiency randomness investment probability

Mood

skeptical analytical

Type

analytical informative

When to use this quote

  • stock picking
  • portfolio construction
  • risk assessment
  • educational seminars

Key Concepts

Market hypothesis selection bias statistical parity

Questions to Reflect On

  • How much does skill truly affect investment outcomes?
  • Can randomness ever replace expertise?
A Different Perspective

Expert analysis may add insight beyond randomness.

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