Watch out Mr. Market! I just re-read the book "A Random Walk Down Wall Street" by Burton G Malkiel. I would have to say that this is an excellent all-around guide to the market. It begins with a history of pretty spectacular market bubbles of the past, including the tulip craze and South Sea Company debacle. A short course in technical analysis and fundamental analysis follows.
The meat of the book is in the in depth coverage of how different investment vehicles work. I thought it was excellent in how much detail was presented. It includes everything from derivatives to zero coupon bonds. He covers many different theories on how the market works, and in essence gives the advice that a random selection of stocks will outperform professionals.
The writing seems to be balanced, whereas most books I tend to pick one idea as the best and only present information to back up their theory.
For anyone that doesn't already have this book, I believe it is a must.
So, for my selection. The actual suggestion in the book is that you buy a global index fund of all the stocks and just hold it indefinitely. But, since I just did that on a previous post, that would be boring and redundant. Therefore, I will pick a stock at random. I used a random number and letter sequencer that I found on the internet, and obtained the result of ASR, completely at random. I have no idea what the stock is all about, but it appears to be some sort of foreign operation that manages airports in southern Mexico. At about fifty bucks per share, I should be able to pick up about ten shares. This being a holiday weekend, I hope there are no surprises for Monday.
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